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Your take on China's Government Work Report [Copy link] 中文

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Post time 2012-3-5 12:56:17 |Display all floors
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Chinese Premier Wen Jiabao has just delivered the report on the work of the Chinese government at the annual session of the National People's Congress (NPC).

The following are some of the major highlights. Now, we would like to invite you to share your thoughts on the report.

Major Targets for 2012  

-- GDP will grow by 7.5 percent.

-- Consumer Price Index (CPI) increase will be kept around 4 percent.  

-- More than 9 million new jobs will be created in towns and cities. The registered urban unemployment rate will be kept at 4.6 percent or lower.  

-- The volume of total exports and imports will increase by around 10 percent.  

-- China will make further progress in industrial restructuring, innovation, energy conservation, and emissions reduction, and ensure that both urban and rural residents' real incomes increase in line with economic growth.

-- A deficit of 800 billion yuan is projected, a decrease to around 1.5 percent of GDP, consisting of 550 billion yuan in central government deficit and 250 billion yuan in local government bonds.  

Fiscal and Monetary Policies  

-- China will continue to implement a proactive fiscal policy. The government will increase spending on areas important to people's wellbeing.  

-- China will continue to implement a prudent monetary policy. The broad money supply is projected to increase by 14 percent.

-- China will make the floating exchange rate regime more flexible and keep the RMB exchange rate basically stable at an appropriate and balanced level.


Many Difficulties ahead

-- China still faces many difficulties and challenges internationally and domestically in economic and social development.

    Major developed economies lack impetus for growth and their unemployment rate remains high, while emerging economies face the dual pressures of inflation and slowing economic growth.

     Domestically, it has become more urgent and more difficult to solve institutional and structural problems and alleviate the problem of unbalanced, uncoordinated, and unsustainable development.


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Post time 2012-3-5 13:33:58 |Display all floors
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Post time 2012-3-5 13:44:07 |Display all floors
I only wish the outlook for the USA was half as good.
With performance like this it's ridiculous for the World Bank to be offering advice.
It was fun watching the Moby look alike making his moves on a protester though.

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If capitalism promotes innovation and creativity then why aren't scientists and artists the richest people in a capitalist nation?

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Post time 2012-3-5 13:46:12 |Display all floors
""A deficit of 800 billion yuan is projected, a decrease to around 1.5 percent of GDP""

I wonder what that's like. In the USA we have a deficit equal to or greater than our GDP.
All the money is in the pockets of the 1%.
If capitalism promotes innovation and creativity then why aren't scientists and artists the richest people in a capitalist nation?

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Post time 2012-3-5 15:32:15 |Display all floors
7.5%

It's quite significant, lower than the 8% threshhold normally set by the Chinese government.

But how meaningful is "8%"?

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Post time 2012-3-5 18:56:08 |Display all floors
#1 I insist on what I have said many times; When is the Chinese Government going to face the "legal inmigration" in the country? How longer do we need to wait to a REAL permanent green card residence system for those of us foreigners who have been here so many years?

As for the current Premier, Mr. Wen, who is about to leave the post, just say a big THANK YOU for his hard work, his kind spirit and his proximity to people!

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Post time 2012-3-6 00:41:12 |Display all floors
robert237 Post time: 2012-3-5 13:44
I only wish the outlook for the USA was half as good.
With performance like this it's ridiculous for ...

I get a good laugh seeing all the obsessed China bashers support the World Bank's advice with all their energy and emotion. I'm sure they have China's best interest at heart.

I'm sure of it.

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