Chinese Economy to Gradually Recover Steadily

Annual Report 2008 released by the People’s Bank of China during this time announced that in 2009, with the gradual implementation of a series of policies and measures for guaranteeing growth, expanding domestic demand and adjusting structure from the beginning of the last three quarters, as of the first quarter of this year, the fast decline of Chinese economy has been preliminarily curbed, with the majority of economic indicators presenting periodical, steady and positive changes, and consequently Chinese economy will gradually recover steadily.

The report claimed that the risk of significant economic decline during the short term has obviously lowered. The report deemed that as a large batch of projects newly launched to construction is gradually spreading, the growth of investment is expected to further speed up and it is estimated that he growth of investment in the name of the whole society and actual investment throughout the year will surpass the year of 2008. A series of measures to improve the people’s livelihood will exert positive influences on stabilizing consumption. In addition, as the macro-control is possessed of a wide territory for maneuver, as long as policies and measures are proper, with their implementation timely and firm, the whole year’s economy is still expected to realize the goal of about 8% growth.

The report simultaneously pointed out that in a short time, the pressure of price decline still exists, but with economic cycle fluctuating and varying, the factor of currency will drive the price cycle changes in the long run, and there is possibility of increase of the pressure of price rising in the next economic growth cycle.