China likely to be 1st economy to regain footing

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Source: | 03-22-2009 13:03

Officials and representatives from the business community have been offering up their views at the Development Forum.

Some say that even though China is facing unprecedented challenges, it's likely to be the first economy in the world to regain its footing.

Officials and representatives from the business community have been offering up their views at the Development Forum. (CCTV.com)

The Director of Development and Research Center under China's State Council, Zhang Yutai -- estimates that China's four trillion yuan or 585 billion US dollar stimulus package -- will likely contribute between one-and-a-half to nearly two percent to the country's economic growth in 2009.

The figure is based on a preliminary assessment.

Zhang Yutai noted China's economic development is facing three major challenges. They are the global financial crisis periodical economic adjustments and an extensive economic growth model.

He says China will tackle the global financial crisis by actively pushing forward global cooperation. And at the same time adhering to the principles of mutual interests and benefits.