Source: CCTV.com

03-07-2009 13:27

Special Report:   2009 NPC & CPPCC Sessions

China's economic policies are under the global spotlight during the annual NPC and CPPCC meetings. Meanwhile, many European countries are finding themselves caught up in the global financial crisis. CCTV has been talking to high profile officials and businessmen in Europe. And they spoke highly of China's strategies to deal with the financial crisis and worldwide economic downturn.

The Chair of the European Parliament delegation for relations with China praised China for its efforts to boost domestic consumption. Dirk Sterckx says China's initiatives are not only constructive for the country's own growth but are also an example for other countries to follow.

Dirk Sterckx, Chair of EP Delegation for Relations with China said "The most important thing is to keep the door open."

Many European businessmen see the potential for growing orders and increasing investments stemming from China's huge economic stimulus plan.

Michael Charlton, President of Think London

Michael Charlton, President of Think London said "China is the engine for the world economy."

Pierre-Antonie Gailly, Deputy Chairman of Paris Chamber of Commerce and Industry-CCIP said "Beside China itself, countries around the world are keeping high expectations for China's economic stimulus plan. We hope it will work. That's because we need China to stay healthy."

European analysts say the 4 trillion yuan bailout package is a move in the right direction. They also say it will likely be more effective than stimulus plans in many countries.

Danny Quah, Professor of London School of Economics and Pol. Science said "The market has jumped over 30 percent since last November."

Editor of Economist Weekly said "China could insert impetus to the world economy."

China's stock market gained over 5 percent this week, bucking the downward trend in global markets. Also encouraging is that China's official Purchasing Managers Index rose to 49 points in February. That's a third consecutive month of improvement. Many analysts are viewing it as a possible sign of early recovery in China's economy.

 

Editor:Xiong Qu