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BEIJING, Dec. 6 (Xinhua) -- A well-known economist said Monday that the biggest problem in China is not inflation, but shifting its economic structure to maintain sustainable growth."The biggest challenge faced by China is economic restructuring in order to shift the economy to a more balanced way that will provide sustainable economic growth," Stephen Roach, former chairman of Morgan Stanley Asia, told Xinhua."In the post-crisis environment, the shift means to build a consumer-led economy, and that is the overriding challenge in China," said Roach, who currently serves as non-executive chairman of Morgan Stanley Asia.Residents' incomes in China remain at a low level. "People's incomes are only 42 percent of the GDP, whereas in the US the rate is 86 percent. So the government should raise the income of the citizens, especially when China wants to stimulate domestic private consumption," said Roach."Of course, that does not mean the Chinese government should ignore the risk of higher inflation," he said.Official data showed that China's October Consumer Price Index (CPI), a major gauge of inflation, rose to a 25-month high at 4.4 percent."There is a certain amount of momentum to inflation, so it's likely to be the a problem over the next 12 months. If the government acts quickly, it will be able to limit the problem, or else China could be facing this problem in 2012 as well," said Roach.Roach suggested China should take broad and comprehensive approaches in dealing with inflation, and the medium-term goal of the shifted economic structure need to be maintained."The government has to demonstrate its resolve in dealing with inflation, and property market assets. It's a challenge, but I think the government is up to the challenge," according to Roach.

BEIJING, Dec.25 (Xinhua) - Chinese Vice Premier Zhang Dejiang on Saturday called for speeding up China's industrial restructuring and improvements in scientific innovation to set the foundation for building a well-off society.Zhang made the remarks while delivering a speech at a national work conference on industrialization and information-based economy.Zhang stressed that China should step up its industrial restructuring and strengthen its competitiveness in the next five years by improving the manufacturing sector, nurturing the emerging industries with strategic importance, developing producer service industries, optimizing enterprise structures and establishing a modern industrial system.Scientific innovation is the key to industrial restructuring, while raising information levels is also an important measure, said Zhang.China should also boost green industries and low-carbon economies to embark on a road of sustainable development, he said.
BEIJING, Dec. 19 (Xinhua) -- Top Chinese political advisor Jia Qinglin urged more efforts be made to promote industrialization, urbanization and agricultural modernization to achieve steady and fast economic development while maintaining social stability.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), made the remarks during his inspection tour of east China's Shandong Province from Friday to Sunday.More efforts should be made to speed the transformation of the economic development pattern and promote the coordinated development of agricultural modernization, industrialization and urbanization, Jia said.Jia also urged efforts to step up transformation of agricultural development pattern, vigorously develop modern agriculture, attach great importance to grain production, and increase farmers' incomes through diversified channels, Jia said.He also called for more efforts to quicken the upgrading of traditional industries, develop strategic emerging industries, improve the core competitiveness of Chinese industries, and push forward energy savings, emission reductions and environmental protection.Jia said governments should strengthen public services and accelerate the establishment of cultural projects to meet people's daily-increasing spiritual and cultural needs.Jia also urged members of democratic parties and individuals without party affiliations to contribute their wisdom and resources to the nation's development.
来源:资阳报