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来源:天星 更新日期:2009-09-11 点击:

Wen Vows To Continue China's Stimulus Efforts

Chinese Premier Wen Jiabao vowed to continue his government's aggressive stimulus efforts, saying the world's third-largest economy faces persistent problems and uncertainties from the global recession despite an upturn in growth.

Speaking to business leaders and others at a World Economic Forum meeting in this northeastern Chinese port city, Mr. Wen reaffirmed the government's confidence that it can reach 8% growth in gross domestic product this year, and said Beijing's efforts to propel growth have been 'timely, forceful and effective.'

'But the pickup in China's economy remains unstable, unconsolidated and imbalanced,' he said. He pointed to uncertainties that continue to cloud the global economic outlook, and said China's economy faces challenges ranging from persistent weakness in demand for its exports to difficulties increasing domestic consumption, which he cited as a major government goal.

'Therefore, we cannot, and will not, change policy direction under inappropriate circumstances,' Mr. Wen said, adding that Beijing will maintain its active fiscal policy and what the government calls a 'moderately loose' monetary policy.

Mr. Wen didn't offer any fresh policy initiatives or discuss additional government outlays beyond the already announced stimulus spending. But his remarks, which follow other similar government statements, are likely to reassure Chinese stock-market investors and others who have worried that Beijing may be planning to ease off the economic gas pedal.

China's economic growth accelerated in the second quarter of this year to 7.9% from a year earlier, up from 6.1% in the first quarter. There has been increasing debate recently in China and elsewhere between those who feel government assistance is still needed to shore up a wobbly recovery and those who worry that continued stimulus risks negative knock-on effects like asset bubbles and inflation. China's benchmark stock index, despite dropping sharply in August, is up more than 70% from its low last year in November. And the government on Thursday said property prices in 70 big and midsize cities in China rose 2% in August from a year earlier, accelerating from the 1% rise in July.

Mr. Wen acknowledged potential dangers, saying the government would 'be vigilant and guard against all sorts of risks including inflation.' But he spent the first third of his half-hour speech emphasizing the wisdom and necessity of the Chinese government's response to the economic crisis so far, which he noted goes well beyond the four trillion yuan, or about $585 billion, in government-led stimulus spending.

The premier pointed to a basket of policies to expand domestic consumption, including greater spending on health care and pensions, and subsidies for the purchase of electronics and agricultural machinery by rural households. He stressed that Beijing is focused on adjusting the structure of China's economy so that more of it is driven by domestic demand, as opposed to exports.

Unusually for a government that tends to obsess over numbers, he played down the 8% growth goal for this year -- while making clear that he thinks it will be achieved. Responding to a question about the figure, he said, 'Actually, I really don't completely focus on the GDP goal,' which he said is less important than other factors such as job creation and improving energy efficiency.

Mr. Wen's speech in January at the main World Economic Forum meeting in Davos, Switzerland, notably put the blame for the world's economic woes on the U.S.-led Western financial system. His speech Thursday largely steered clear of such recrimination, and stressed the need for cooperation on issues ranging from economic policy to avoiding protectionism.

On the issue of climate change -- the subject of growing attention given the world meeting on environmental policy in Copenhagen later this year -- Mr. Wen stuck to China's position that wealthier nations need to make concessions. 'Developed countries should recognize the reality of their historical responsibilities and their large per-capita emissions,' he said.










温家宝今年1月在瑞士达沃斯世界经济论坛(World Economic Forum)会议上的讲话将全球经济困境归咎于以美国为首的西方金融系统。他周四的讲话在很大程度上避免了这类谴责,而是强调需要在从经济政策到避免贸易保护主义的一系列问题上进行合作。