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BEIJING, Nov. 28 (Xinhua) -- China has vowed to maintain its macroeconomic policy stance in 2010 despite worries that its stimulus is likely to risk fueling new bubbles and overcapacity. A meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee agreed Friday that the country will continue the proactive fiscal policy and moderately easy monetary policy next year. "It is a must for the country to stick to the pro-growth policy stance," said Zhang Liqun, a researcher with the Development Research Center of the State Council, one of China's top think tanks. "A guarantee to the 8-percent growth target this year does not mean the national economy has been on an independent and stable developing track," Zhang said. Many uncertainties, both at home and abroad, still weighed on China's economy and it was quite necessary for the government to maintain its policy stance, said Feng Fei, a senior researcher at the Development Research Center of the State Council. China's economic growth has approached its pre-crisis level a year after the adoption of the 4-trillion-yuan (585.6 billion U.S. dollars) economic stimulus package. The country's economy grew 8.9 percent year on year in the third quarter this year, accelerating from 7.9 percent in the second quarter and 6.1 percent in the first quarter. In the third quarter last year, it increased 9 percent year on year. However, the country's strategy has raised concern that loose money could inflate prices of stocks and housing, build up unneeded factories and saddle the economy with bad debts. Although the current stimulus package had side effects, it was not the time for retreat, said Zhuang Jian, a senior economist with the Asian Development Bank. The government should be aware of the hidden trauma in economic growth and be ready at all time for popping-up problems by improving the policy flexibility, he said. It was important to enhance the flexibility and focus of macro regulation, considering the inflationary expectations, assets bubble risk and rapidly changing economic situation, Feng said. The Political Bureau vowed to enhance the focus and flexibility of economic policy in the following year according to new situations. It would also further implement and enrich the economic stimulus package to make the economy grow in a more stable, balanced and sustainable way. Bureau members agreed the government would maintain continuity and stability in its macroeconomic policies, according to a statement released after the meeting. The barely-changed wording in the statement of the meeting, convened ahead of the annual Central Economic Work Conference, would set the tone for next year's economic work, said Wang Tongsan, a senior researcher with the Chinese Academy of Social Sciences. He noted that the "five highlights" in the statement would be mid- and long-term strategy for economic and social development in China, which would enable the country to grab the opportunity during the crisis. The country would step up efforts to improve the quality and efficiency of economic growth, to promote the transformation of the economic development pattern and structural adjustments and to promote innovation and reform and opening up to enhance the vigor and momentum of economic growth, the statement said. It also urged more efforts to improve people's livelihood and maintain social stability, and to coordinate the domestic and international situation.
BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao and visiting U.S. President Barack Obama issued the China-U.S. Joint Statement here Tuesday, expressing the hope that the multilateral mechanism of the Six Party Talks would convene at an early date. The two presidents reaffirmed in the joint statement the importance of continuing the Six Party Talks process and the denuclearization of the Korean Peninsula. The joint statement said the two sides will work together with other parties concerned to comprehensively achieve the purpose and overall goal of the Six Party Talks through consultations and dialogues. "The Chinese side welcomed the start of high-level contacts between the United States and the DPRK," said the joint statement.
BEIJING, Dec. 29 (Xinhua) -- Chinese Vice Premier Li Keqiang has stressed that more efforts should be made to improve the people's livelihood while promoting economic growth. Li made the remarks during a recent visit to north China's Shanxi Province, where he chatted with village cadres and laid-off workers. He said it is an important duty for the Party and government to solve the basic livelihood problems of the people. The goal of the nation's economic growth is to improve the people's well-being, he said. Chinese Vice Premier Li Keqiang (R) inspects the "shanty towns" to be pulled down at Guloudongjie Street in Datong, north China's Shanxi Province, Dec. 27, 2009. Li Keqiang made an inspection tour in Shanxi from Dec. 27 to 28Li also said the government should help meet the basic needs of disadvantaged people and further promote employment, compulsory education, basic medical care, public health and affordable housing projects to ensure the people's well-being. The efforts would not only let more people share the fruits of development, but promote the country's domestic demand and economic restructuring, according to Li.
BEIJING, Dec. 7 (Xinhua) -- China on Monday pledged to work with Indonesia to push forward the bilateral strategic partnership. China's top legislator Wu Bangguo and top political advisor Jia Qinglin made the remarks in separate meetings with Taufik Kiemas, Chairman of the People's Consultative Assembly of Indonesia. Wu Bangguo (R), chairman of China's National People's Congress Standing Committee, shakes hands with Taufik Kiemas, chairman of the People's Consultative Assembly of Indonesia during their meeting in Beijing, capital of China, on Dec. 7, 2009. "We always attach great importance to the relations with Indonesia," said Wu, chairman of the Standing Committee of the National People's Congress (NPC), China's top legislature. Hailing the sound development momentum of China-Indonesia ties, Wu said the countries had enjoyed increasing mutual political trust, fruitful cooperation in various sectors, and close coordination in regional and international organizations. Jia Qinglin (R), chairman of the National Committee of the Chinese People's Political Consultative Conference, meets with Taufik Kiemas, chairman of the People's Consultative Assembly of Indonesia, in Beijing, capital of China, on Dec. 7, 2009. "We applaud Indonesia's long-term adherence to the one-China policy," he noted, expressing appreciation for the country's support in issues concerning Taiwan, Tibet and Xinjiang. The two nations, both as important nations in the Asia-Pacific region, enjoyed broad common interests, Wu said, hoping that the two sides would enhance parliamentary exchanges and cooperation to enrich the contents of bilateral ties. Jia Qinglin, chairman of the Chinese People's Political Consultative Conference (CPPCC) National Committee, told Taufik that the China-Indonesia ties had stepped into a new phase of rapid, healthy and stable growth. "We are ready to work with Indonesia to expand cooperation in economy, trade and culture to advance our strategic partnership," Jia said, noting that this would benefit the two peoples and help regional and world peace and development. Jia hoped the CPPCC, the top political advisory body, and the People's Consultative Assembly of Indonesia would maintain close exchanges and learn from each other to help promote relations between the two nations. This China trip from Dec. 6 to 9 was Taufik's first visit abroad since taking office in October this year. Taufik told Chinese leaders that this showed the importance attached by Indonesia to relations with China. Indonesia valued the friendly and cooperative ties with China, he said, hoping that the two nations would increase pragmatic cooperation in infrastructure construction and resources exploitation. He said the People's Consultative Assembly was ready to strengthen exchanges and cooperation with the NPC and the CPPCC to contribute to comprehensive growth of Indonesia-China ties. Taufik reiterated that his country would firmly stick to the one-China policy.