Financial institutions requested to back industrial rebalance

Monetary policy should be made to meet multiple objectives rather than focus only on fighting inflation, Zhou Xiaochuan. governor of the People＇s Bank of China, the central bank, said on December 22. China＇s monetary policy covered four considerations, Zhou said at a forum on development and reform in China＇s financial sector in Beijing. referring to low inflation, economic growth, employment and balance of international payments.     

CHANGE for a New Economic Structure？

Opportunity in the financial crisis？
For a long time, China＇s fast economic growth is heavily dependent on growth of exports, particularly dependent on exports of low value-added, low technological products. Although the policy-makers and scholars are aware of the importance and necessity of industrial structure improvements since 1992, it is hard to have a real incentive to promote economic restructuring under rapid economic growth.     

Electronic Information Industry： Calls for Upgrade and Reform

Electronic information industry is a fundamental and strategic pillar industry in China＇s economic progress. With the feature of labor-intensive manufacturing, this industry has developed to be a competitive one of China by few decades of quick growth in large scale, boasting a high degree of marketization and internationalization. Take color TV manufacturing sector as an example, the annual producing value of the sector is close to RMB 200 billion,     

Energy Saving,Environmental Protection：Top Priority in China＇s Development——Exclusive interview with Dr.Yonglong L,Secretary-general,Chinese Committee for SCOPE（Scientific Committee on Problems of the Environment/ICSU）.

Energy saving,emission reduction and economic development are major issues China has to meet in building a harmonious society.On one hand,China should pursue a sustainable,fast and sound economic development,on the other hand,she should try to decrease the overuse of energy resources and the environmental problems caused by the rapid economic growth. In this regard,on June 24,the Standing Committee of National People＇s Congress deliberated the draft of Energy Saving Law,according to which China is to take“resources saving”as a basic national policy.This is a key issue to the long-term benefits of China.With relevant questions,China＇s Foreign Trade interviewed Dr, Yonglong L（？）,Secretary-general,Chinese Committee for SCOPE（Scientific Committee on Problems of the Environment/ICSU）.and Research Professor at the Chinese Academy of Sciences. Let＇s listen to Dr.L（？）＇s comments with wisdom.[第一段]     

Learn from South Korea——Experiences to Cope with Weakening Export to China

Great importance has been attached to Sino-South .Korea trade relationship by the South Korean gov-ernment for the simple reason that China remains its biggest trade partner. Benefited from China＇s fast economic growth, export from South Korea to China has been rapidly growing with an average annual rate of 30.24% in the past three years. It can not be denied that China＇s appe- tite is undoubtedly one of the most important driving forces that fuels South Korea＇s economic growth. Unfortunately, with the advent of the financial turmoil, trade volume be- tween the two countries has been greatly sliding down since the end of 2008. To deal with the sour situation, a series of measures were timely released by the South Korean govern- ment to resolve the problem. Among these measures, some of them deserve our attention and bring us valuable experiences.     

Weaving A Global Network

in recent years, private enterprises have increasingly become a major economic force in China. As such businesses grow, the revenue from the international business that they conduct grows accordingly. China＇s private enterprises are going global. Due to the world＇s economic globalizatlon and China＇s entry into the WTO, both domestic and international competition has come to be more intensified, which to some extent has provided a favorable environment for the international business operations of China＇s private enterprises. A document entitled Opinions of the State Council on Encouraging, Supporting and Guiding the Development of the Non-Public Ownership Economy, Including Individual Ownership and Private Investment, issued in February 2005, explicitly supports the exploration of foreign markets by private enterpris- es. It is the definitive guide for private business in China, and thus has been a driving force behind private enterprises to start international business.     

What next for China＇s macroeconomic policies？

In Europe debt crisis has not yet hit bottom; in the United States economic recovery remains weak. Domestically, there is insufficient internal impetus driving economic growth in Uhina; and export sees a risk of decreasing The country has pulled half-way through 2010, its most complicated year in economy. However, as global economic crisis becomes more severe than expected and worldwide recovery increasingly zigzags, there are still big uncertainties both home and abroad for China＇s economic development. As key economic data for the fist half of 2010 is coming out, reporters from Xinhua News Agency interviewed several famous economists who analyzed and made predictions about China＇s macroeconomic policies for the following six months.     

How Do China's Economic Policies Work?

All the indicators of China's economic data in the first half of 2008 have shown that the fast growth is not going to translate into overheating.But given the complicated economic situation now,it remains a headache to maintain a steady economic growth.What challenges will there be in China's economic development in the second halfofthis year?And what policy would be the key to the problems?     

China to Construct An Innovative Country in 2020

The National Mid and Long Period Program on Scientific and Technol- atio of contribution of China＇s scientific and technology progress to the economic growth should be improved to 60%, the ratio of R ＆ D investment in GDP should be improved to 2.5%.     

Italy and China： Trade, Culture and History——An Interview with Antonino Laspina, Commissioner of the Italian Trade Commission＇s Beijing office

Italy is a modern, industrialized nation which has managed to preserve its traditional culture intact. It is China＇s old friend, and its long-time trade partner. In 2006, the Year of Italy in China, various measures were taken to broaden the scope of China and Italy＇s relationship, not only in terms of economic cooperation and trade, but also concerning historical and cultural awareness. What sort of new opportunities for cooperation will we be seeing in the new year？ China＇s Foreign Trade interviewed Antonino Laspina, Commissioner of the Italian Trade Commission＇s Beijing office, about this question and more.     

Spring Festival Economy Heating Up

China＇s economic tone setting conference for 2009, annual Central Economic Work Conference from last December 8 to 10, pledged to maintain a stable, healthy growth this year through domestic demand expansion and economic restructuring. According to the central authorities, in 2009, China will enhance and improve macroeconomic control efforts and carry out an active fiscal policy, as well as a moderately easy monetary policy. Expenditures in public areas will be ＂substantially increased＂ and those in major areas would be guaranteed.     

Light Industry Feels the Pinch

Amid the global downturn, China＇s light industry, an important engine for export and economic growth, is no exception to suffer severely from changes in the doanestic and international economic environment in recent months. In such context, concrete measures should be taken to support the industry to weather the difficulties.     

ROK, China Strive for Mutual Economic and Trade Benefits

The President of the Republic of Korea （ROK） Roh Moo-hyun announced that Korea fully recognized China＇s market economy status. Roh＇s announcement was made during a joint press conference with Chinese President Hu Jintao, who was on a state visit to ROK in November. China is now the largest trading partnet of ROK, with trade volume between the two countries expected to reach 100 billion US dollars this year. The two leaders agreed that the bilateral trade volume should be doubled to 200 billion US dollars by 2012. A significant milestone having been reached between the two countries, what kind of impact can be expected to follow from the events in regards to the bilateral economic and trade relations between China and ROK？ With such questions in mind, China＇s Foreign Trade reporters interviewed Kim Ha-joong, Ambassador of ROK to China.     

Low Carbon Economy： A Sustainable Economic Development Model

Price paid while development achieved Since the reform and opening up in 1978, China has already paid a high price in its resources and environment despite the fact that a miraculous economic progress has been achieved. The country＇s sustainable development has been increasingly thwarted by its accelerating resources exhaustion, environment pollution and biological deterioration. Without fundamental changes to its past resource-extensive economic growth model, it would be difficult for the fast-growing economy to sustain its robust economic growth.     

RMB Exchange Rate Reform：Past and future

With the deepening of China＇s financial reform, economic development and the enforcement of market roles, the RMB exchange rate needs to become more flexible and become a more sensitive reflection of the changes in market supply and demand. Under such circumstances, on July 21, the People＇s Bank of China announced that the previous system where China＇s RMB was pegged to the U.S. Dollar would be changed to include a basket of foreign currencies, shifting China＇s exchange rate system into a managed floating exchange rate regime based on market supply and demand.     

Fixed-asset investment： 30,1% ↑ in 2609

China posted a drastic increase in fixed-asset investment in 2009 as the world＇s third largest economy aimed to spend more on property, roads and other infrastructures to sustain the economic growth.     

China＇s coal ouput up 8.7% in H1 ,profit growth sharply down

China＇s coal production continued to ease in the first half of this year on flat domestic demand amid the economic slowdown.     

＂Made in China＂ at the Crossroads in 2009

In the short run, China＇s export is a usable weather vane for the health of the global economy and the strength of consumer demand. A slump in export to some extent means economic depression elsewhere. Besides, the development direction choices of manufacturer will be pivotal to China＇s upgrade from export-oriented economy to a more well-rounded economy. The immediate threat to this upgrade is from the global slowdown that Chinese exports declined in November last year heralds tough times in 2009.     

WB： China＇s GDP Growth at 9% in 2005

The World Bank said China＇s economy is expected to grow by 9% in 2005, and about 8% in 2006. In its quarterly update on the country＇s economy, the China mission of the World Bank said the economic outlook for China ＂remains good＂ in a stable macroeconomic environment and with favorable financial conditions. ＂We now project （China＇s） GDP （gross domestic product） growth of 9% in 2005,     

Ambassadors＇ View on NPC＆CPPCC

As the world＇s major economies still kept in the mires of recesssion, China realized a speedy recovery with a 8.7-percent economic growth in 2009, so, although, NPC ＆ CPPCC has closed its curtains in Beijing on March 14, 2010, we still can heard about the comments on them. During the two sessions, the world media focused their attentions on what China next steps will be implemented,