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NBS official refutes charges of unreliable GDP figure
(China Daily)
Updated: 2009-07-23 11:50 China Daily: Mr. Scissors also talked about China's reluctance to adjust its economy. He said that "the PRC is trying to drag itself and the rest of the world back along the trail that led to the current economic crisis." What is your opinion about this? NSB: We are always welcome useful advice, but Mr. Scissors' conclusion seems to be "too hasty". In order to effectively cope with the impact of the international financial crisis and to maintain stable and rapid economic growth, the Chinese government has developed a quite comprehensive scheme that includes four major aspects. The first is to expand domestic demand, increase government investment in large-scale projects and implement a structural tax reduction. The second is to invigorate industries by implementing the restructuring and revitalization plan in ten major industries closely related to the national interest and people's livelihoods. The third is to strengthen and improve our capacity for independent innovation to provide support for economic development. The fourth is to greatly enhance social welfare and resolve people's concerns regarding healthcare, education and other issues. The package adopted by the Chinese government is neither a pure increase in investment, nor a return to the original economic growth model. Instead, it meets both short-term and long-term interests.
In conclusion, the measures to expand domestic demand and maintain stable and rapid economic growth adopted by the Chinese government are a emergency move to maintain growth, promote people's livelihoods and maintain stability, as well as a long-term strategy to ensure the Chinese economy grows in a logical and harmonious way. (For more biz stories, please visit Industries)
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