Subscribe free to our newsletters via your
. Earth Science News .

Wen sees China meeting growth target: Xinhua
by Staff Writers
Beijing (AFP) Aug 15, 2012

Chinese Premier Wen Jiabao has said the country will be able to meet economic targets this year, including growth of at least 7.5 percent, the official Xinhua news agency reported Wednesday.

Speaking during a recent tour of the eastern province of Zhejiang, Wen said China was still facing economic pain despite some changes for the better from July, the report said.

"The foundation of the economy is still not solid. Economic difficulties might still continue for a period of time," Wen was quoted as saying.

China's economy grew 7.6 percent in the second quarter of this year, its slowest pace in more than three years.

China last week released economic data for July -- including trade, industrial output and retail sales figures -- which pointed to continued weakness in the domestic economy and raised hopes for monetary easing.

But Wen expressed confidence that China's economy would stay on track.

"We have the conditions and the ability to definitely meet this year's economic and social targets," he said.

Among those targets, China in March set a goal for economic growth of 7.5 percent this year, down from actual growth of 9.2 percent last year and 10.4 percent in 2010.

Wen said China had moved to promote growth through its monetary policy by cutting interest rates twice and lowering the amount of funds that banks must place in reserve, Xinhua reported.

China has also moved to ramp up bank lending and encourage more government investment, though it has stopped short of the massive stimulus package launched in the wake of the global financial crisis in 2008.

The International Monetary Fund last month forecast that China's economy would rebound in the second half of 2012 to expand 8.0 percent annually as government policies to spur growth take effect.


Related Links
The Economy

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Argentina plans $750M YPF bond issue
Buenos Aires (UPI) Aug 14, 2012
Argentina has unveiled plans to raise $750 million in bonds on the back of Spanish oil company YPF, which it nationalized earlier this year. Analysts said the ambitious bond issue could be part of an attempt by President Cristina Fernandez de Kirchner to rehabilitate Argentina in the international capital markets, where it is rated with caution because of its 2002 sovereign default. ... read more

Iran says US quake aid was not in 'good faith'

Asia 'megacities' face infrastructure timebomb: ADB

Australia moves on offshore asylum centers

Fukushima caused mutant butterflies: scientists

Nano, photonic research gets boost from new 3-D visualization technology

Samsung expands lead in smartphone market: Gartner

Samsung takes on iPad with Galaxy Note tablet

Megaupload boss plans music venture, hints at relaunch

Global water sustainability flows through natural and human challenges

Oceans suffering from sea sickness, says study

How much nitrogen is fixed in the ocean?

A new global warming culprit: Dam drawdowns

Melting ice opens Northwest Passage

Tropical climate in the Antarctic

Aerial photos reveal dynamic ice sheet

Russian icebreaker sets out for expedition

Diversity keeps grasslands resilient to drought, climate change

Rooftop farms flourish in space-starved Hong Kong

New technology eliminates plant toxins

Researchers Demonstrate Control of Devastating Cassava Virus in Africa

Flooding in central Nigeria kills at least 28 people

Iran pair rescued from quakes after three days: reports

Philippines storm brings more floods, landslides

NASA Global Hawk Pilots Face Challenges Flying Hurricane Missions

Kenya keeps up search after Uganda army choppers crash

Heavy fighting near Liberian border

Eight Ugandans survive army helicopter crash; two dead

'Very little' done on Mali military action: defence minister

Neolithic Man: The First Lumberjack?

New Kenyan fossils shed light on early human evolution

Early human ancestors had more variable diet

Researchers develop new physical face cloning method

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement