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Declaration of Situation on Mr. Li Deshui Interviewed by Reporters [Copy link] 中文

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Declaration of Situation on Mr. Li Deshui Interviewed by Reporters
National Bureau of Statistics of China 2009-03-06 09:33:40
Li DeShui

March 5, 2009

During the coffee break of breakout sessions of the CPPCC National Committee in the morning on March 4, the reporter was asked me in the corridor: "Is there any new economic stimulus plan will be released by tomorrow?"

My answer was: I have not seen the "Government Work Report", either do not know whether there will be new plans. Please watch the live broadcast tomorrow, Premier will be read out "Government Work Report” at the National People's Congress.

After then, the news agencies have reported: "Mr. Li Deshui, former Commissioner of NBS of China, said in Beijing today, Premier Wen Jiabao will announce new economic stimulus plan at the opening ceremony of the National People's Congress tomorrow."

This is totally irresponsible speculation news by individual news organizations. I did not accept any formal interview with reporter, either conveys such information.


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Originally posted by jl2315 at 2009-3-10 22:33

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google's translation:

Translation: Chinese » English
  National Bureau of Statistics Li Deshui consultants interviewed by reporters about the situation statement

March 4 morning intermittent sessions of the CPPCC National Committee, pressed by reporters in the corridor there is: tomorrow will be no new economic stimulus package released?
My answer: do not see the "Government Work Report", but do not know whether there will be new options. Tomorrow the Prime Minister will be read out at the National People's Congress on "Government Work Report", please watch U.S. television broadcast tomorrow.
But then there is news agencies reported: "China's former Secretary and Statistics Li Deshui said in Beijing today, Chinese Premier Wen Jiabao will tomorrow at the opening of the National People's Congress will announce new economic stimulus package."
This is totally irresponsible individual news organizations news speculation. I did not accept a formal interview with reporter did not convey such information.
Hereby declared.

Li Deshui
March 5, 2009

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Post time 2009-3-11 07:54:37 |Display all floors
China mulls new stimulus plan

By Yidi Zhao and Kevin Hamlin, Bl o o m b e r g  N e w s   March 4, 2009
Chinese Premier Wen Jiabao is considering new stimulus measures, adding to a 4-trillion yuan (US$585-billion) spending plan as the government tries to revive growth in the world’s third-biggest economy.

Wen will announce “a new stimulus package” in his annual address to the nation’s legislature on Thursday, former statistics bureau head Li Deshui told reporters in Beijing on Wednesday. He didn’t say whether spending would increase or give further details.

Stocks rallied worldwide on speculation increased spending will spur earnings after an export collapse dragged the economy to its weakest growth in seven years, costing the jobs of 20 million migrant workers. The C o m m u n i s t  P a r t y ’s P o l i t bu r o pledged last month a “massive” increase in government investment this year and Standard Chartered Bank Plc says the package may be doubled.

“The existing stimulus package may not be adequate considering the total collapse of global trade,” said Isaac Meng, a senior economist at BNP Paribas SA in Beijing. “There should be more spending, especially on the social side to cushion unemployment. This is quite urgent.”

The Shanghai Composite Index closed 6.1% higher. Copper futures jumped by the exchange-imposed 5% daily limit in Shanghai on optimism demand may pick up in China, the world’s biggest consumer of the metal. The MSCI World Index added 0.5% at 12:24 p.m. in London and futures on the Standard & Poor’s 500 Index rose 1.7%.

Reporters asked Li, who was outside a meeting of the economic group of the Chinese People’s P o l i t i c a l  Consultative Conference, whether China would double or triple the 4-trillion yuan package.

‘New Stimulus Package’

“In Premier Wen’s report on Thursday, there will be an announcement of a new stimulus package,” said Li, also a former member of the central bank’s monetary-policy committee.

China will spend more on infrastructure and to boost manufacturing in addition to the stimulus package announced in November, Reuters reported on Wednesday, citing an unidentified official at the country’s top economic planning agency.

Wen’s speech to the legislative meeting, which starts at 9 a.m. on Thursday, will be the equivalent of a U.S. State of the Union address, setting priorities for the year.

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"Government Work Report"


Report (of the Secretary-General) on the work of the Organization

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