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BEIJING, Jan. 6 (Xinhua) -- China's rural areas have the biggest potential in boosting domestic demand, said Chinese Vice Premier Wang Qishan during visits to the countryside concluded on Tuesday. China should "especially place priority on tapping the rural market and developing the countryside" when spreading global financial crisis blunted the country's economic growth, said Wang. He made the remarks when visiting towns, rural stores and farmers in central China's Henan Province on Monday and Tuesday. More chain stores should be set up in the countryside to facilitate rural consumption, Wang said. He also urged local officials to well implement policies to subsidize farmers' purchase of home appliances. Financial institutions should develop more services targeting the need of farmers and rural enterprises, he said. In its latest effort to boost rural consumption, China has decided to roll out a 13-percent subsidy nationwide for farmers who buy home appliances, starting from Feb. 1. China has announced a 4 trillion-yuan (586 billion U.S. dollars) fiscal package to stimulate domestic demand.
BEIJING, Dec. 24 (Xinhua) -- The National People's Congress (NPC), China's top legislature, heard here on Wednesday a series of reports including the implementation of the 11th five-year plan and the impact of the world financial crisis. Wu Bangguo, chairman of the NPC Standing Committee, attended the conference. Zhang Ping, minister in charge of the National Development and Reform Commission (NDRC), delivered a report on how the Chinese government has implemented the Outline of the 11th Five-Year Program for National Economic and Social Development (2006-2010). The Second plenary session of the sixth session of the 11th Standing Committee of China's National People's Congress is held at the Great Hall of the People in Beijing, China, on Dec. 24, 2008. The implementation has been going well, with most of the goals being reached as scheduled at the middle stage, he said. He urged more attention to be paid on expanding domestic demand, increasing innovative ability, continuing reforms on resource prices and taxes, energy saving and emission reduction, as well as increasing the government's ability to provide public services. Zhang also gave a report on how the intensifying impact of the world financial and economic crisis is reverberating through China's economy. Other reports included efforts to stabilize prices and prevent price hikes addressed by NDRC vice head Zhang Mao, as well as water pollution prevention and control by Environmental Protection Minister Zhou Shengxian.
BEIJING, Nov. 21 (Xinhua) -- The Communist Party of China's (CPC) top anti-corruption official on Friday urged tighter supervision and inspection to ensure the implementation of the central government's economic policies. He Guoqiang, secretary of the CPC Central Commission for Discipline Inspection (CCDI), made these comments at a conference held before inspection groups headed for local governments. The central government has announced steps to spur domestic demand and boost economic development in the face of the global economic slowdown. A supervision work leading group, composed of the CCDI, the Ministry of Supervision, the National Development and Reform Commission, the Ministry of Finance and the National Audit Office, has been set up to supervise the projects invested in by the central government and the implementation of economic policies. Twenty-four groups will go to 31 provinces, municipalities and autonomous regions to carry out inspections. He asked inspectors to examine project plans, as well as approval and construction procedures, to ensure they were in compliance with laws and regulations. Supervision over the management and use of money, as well as project quality, should be tightened, He said. He, who is also a member of the Standing Committee of the CPC Central Committee Political Bureau, added that officials found taking bribes or embezzling funds should be severely punished.