Wen urges stable economic growth
(AFP)
Updated: 2006-07-16 21:48
Chinese Premier Wen Jiabao has said that China must keep its economic growth
at a relatively stable pace and guard against a rapid rise in fixed asset
investment.
Chinese Premier Wen Jiabao, seen here in June
2006, has said that China must keep its economic growth at a relatively
stable pace and guard against a rapid rise in fixed asset investment.
[AFP] |
"The economic development must be kept stable and relatively fast, we must
prevent fixed asset investment from growing too quickly and make efforts to
improve the investment structure," China Central Television quoted Wen as saying
Sunday.
Credit and land supply policies should be strictly implemented and efforts
must be made to limit the growth of energy-consuming and polluting industries,
he was quoted as saying.
"Our purpose is to prevent unstable and healthy elements amid fast economic
development... to prevent big ups and downs in the economy," Wen said in a state
radio broadcast.
"We must work hard to save energy... cut down pollution, care more about the
livelihood of ordinary people and deepen our reform and opening drive."
The government recently proposed stronger tax, credit and land policy
measures to "restore order" to the sizzling property market.
Last month its central bank ordered major commercial banks to set aside more
money as reserves in an effort to slow lending growth and to cool breakneck
economic growth.
Despite these measures the economy picked up even more speed in the second
quarter, reaching a dizzying 10.9 percent growth rate, according to the official
Securities Times last week.
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