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Business / Economy

Targeted control measures to boost steady growth

(Xinhua) Updated: 2014-06-13 09:19

A recent report from the Center for American Progress was pessimistic about the implementation of China's economic reform agenda. Despite an ambitious agenda, the report said, the reforms underway and under consideration "will fail to move the needle in a significant way toward a market-oriented economy where all firms can compete on even ground."

Chinese President Xi Jinping has called for preparation to endure pressure brought by the reform and pay a price for the reform.

Targeted control measures to boost steady growth
'Targeted moves' will help secure yearly goal
 
Targeted control measures to boost steady growth
Risk control crucial to growth 
From the Third Plenary Session of the 18th Central Committee of the Communist Party of China and the Central Economic Work Conference last year to the annual legislative and political advisory sessions this year, Chinese policy-makers have elaborated on roadmaps for long, medium and short terms.

The Chinese government have unveiled a series of targeted currency policies and fiscal policies that focus on real economy investment.

Targeting support for agriculture and small companies, the central bank announced Monday that it will cut the reserve requirement ratio by 0.5 percentage points for the banks engaged in proportionate lending to the farming sector or small- and micro-sized enterprises, effective on June 16.

Besides, China will build a multi-tier transport system along the Yangtze River to help boost construction of an economic belt along the waterway, according to a statement released Wednesday after a State Council executive meeting chaired by Premier Li.

Actually, China's core macro-economic indicators, such as growth speed, employment rate and price of commodities, are developing steadily. Li said such stability is progress.

Based on a sharp observation of Chinese polices, Tao Dong, Credit Suisse's chief economist in Asia, said the low for China's economic growth has passed.

Goldman Sachs also predicted in a recent report that the Chinese economy is expected to recover the momentum for growth in the second half of this year.

Therefore, targeted control measures need time to be effective, but with small side effects. And China should be prepared for that.

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