Source: CCTV.com

03-13-2009 13:51

Special Report:   Global Financial Crisis
Special Report:   2009 NPC & CPPCC Sessions

Chinese Premier Wen Jiabao says the country has made preparation to fight the global financial crisis. He also says China's economic growth target is still possible if there are enough efforts. He made the remark at a press conference held Friday after the close of the NPC annual session.

Chinese Premier Wen Jiabao gestures during a press conference after the closing meeting of the Second Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 13, 2009. The annual NPC session closed on Friday. (Xinhua Photo)
Chinese Premier Wen Jiabao gestures during a press
conference after the closing meeting of the Second
Session of the 11th National People's Congress(NPC)
at the Great Hall of the People in Beijing,
capital of China, March 13, 2009. The annual NPC 
session closed on Friday. (Xinhua Photo)

Premier Wen said big amount of government investment is the strongest and most effective way to stimulate the economy. He said the central government had set to carry out 1.18 trillion yuan in direct investment. And this is totally new investment.

Wen Jiabao, Chinese Premier said "The 1.18 trillion yuan will be spent on promoting the social welfare, environment protection, key infrastructure facilities and technology upgrading. This is not part of the previously announced 4 trillion yuan package."

He explained that there will be more than 600 billion yuan of tax cut. The pension of retirees will be increased. There will be more subsidies for farmers. And a 850 billion yuan of investment will be put into health care reform in the next three years. And none of those is included in the 4 trillion yuan package. The premier said China was ready to confront long term battle with the financial crisis. There is enough room for the government to adjust its policy.

Wen Jiabao said "We have made our scheme to tackle even bigger difficulties. There is plenty of 'ammo'. We can carry out new economic stimulus package at any time."

Talking about China's target of economic growth for 2009, Premier Wen said the eight percent GDP growth might be hard to achieve, but it is still possible. He said China is in a stage of accelerating marketization and urbanization and its consumption is expanding. The country has also got ample labor resources. Meanwhile, the country's financial system is healthy and stable after reforming for more than a decade. These elements will provide strong support to economic development.

 

Editor:Xiong Qu