Tuesday, November 25, 2008

ZHANG: to bolster rapid and healthy development of industrial economy

ZHANG De Jiang, member of Standing Committee of the Political Bureau of the Central Committee of the Communist Party, and Vice Premier said on a weekend inspection tour to central province of Hubei that the spreading global financial crisis and economic slowdown are having bigger negative impact on Chinese economy and we should unify our ideology and action to actively battle the financial crisis to reform and innovate in a bid to improve quality, to explore market and bolster rapid and healthy development of industrial economy.

Zhang, who aims to learn about performance of the industrial sector during the trip, urged the local officials to give strong support to key enterprises and sectors and also small and medium-sized enterprises and labor-intensive businesses.

China's annual economic growth rate slowed sharply to 9 percent in the third quarter, from 10.4 percent in the first half, because of slower growth in exports and property investment.

Economic data for October, including industrial output and exports, had showed the economic situations were deteriorating further.

The Chinese government unveiled early the month a-4 -trillion-yuan stimulus package to spur economic growth on rising worries a further slowdown would drive up unemployment rate.

The vice premier also called to adjust industry, products and corporate governance structures to improve the market competitive edge of local businesses.

Zhang, who inspected carmakers, steel, textile, and high-tech companies in cities of Wuhan and Huangshi from Nov. 21 to 24, urged speeding up technological and management innovation to reduce production costs and improve corporate earnings.

No comments:

Enter your email address:

Delivered by FeedBurner