CHINESE FINANCE LEADERS SEE SIGNS OF ECONOMIC RECOVERY
Tania Branigan
The Guardian, March 6, 2009
China's economic leaders said today that they see signs of recovery, but vowed to act "quickly and decisively" if further help for the world's third-largest economy was needed.
Zhou Xiaochuan, governor of the central bank, said he believed the economy was "stabilising and recovering" in the face of the global economic crisis. The chair of the country's top economic planning body reiterated that there were no plans to top up the country's 4 trillion yuan (£4bn) stimulus package, with officials waiting to see what is necessary.
World stockmarkets fell yesterday, and kept falling in Asia today, as anticipation of a top-up announcement at the National People's Congress proved premature. "The policies (to date) have achieved significant results," Zhou told a news conference on the sidelines of the NPC, the largely ceremonial parliament.
The governor added: "We are also seeing that the economic figures are stabilising and recovering, which demonstrates that the policies have begun to show an impact."
But he added: "In particular, we have to prevent being too slow-handed or light-handed in responding. We must err on the side of being quick and decisive."
Tania Branigan
The Guardian, March 6, 2009
China's economic leaders said today that they see signs of recovery, but vowed to act "quickly and decisively" if further help for the world's third-largest economy was needed.
Zhou Xiaochuan, governor of the central bank, said he believed the economy was "stabilising and recovering" in the face of the global economic crisis. The chair of the country's top economic planning body reiterated that there were no plans to top up the country's 4 trillion yuan (£4bn) stimulus package, with officials waiting to see what is necessary.
World stockmarkets fell yesterday, and kept falling in Asia today, as anticipation of a top-up announcement at the National People's Congress proved premature. "The policies (to date) have achieved significant results," Zhou told a news conference on the sidelines of the NPC, the largely ceremonial parliament.
The governor added: "We are also seeing that the economic figures are stabilising and recovering, which demonstrates that the policies have begun to show an impact."
But he added: "In particular, we have to prevent being too slow-handed or light-handed in responding. We must err on the side of being quick and decisive."
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