CRI听力：China GDP Growth is Hopeful to Increase over 8 Percent
2009-02-02来源:和谐英语
China's gross domestic product expanded by 9 percent in 2008, the slowest pace in seven years, as the widening global financial crisis continued to affect the world's fastest-growing economy.
Despite this, some experts are optimistically forecasting that the country's GDP will grow by 8 percent this year.
Our reporter ZhangCheng has the details.
Reporter:
The National Bureau of Statistics said China's economic growth cooled to its slowest pace with GDP reaching 30 trillion yuan, or 4.4 trillion U.S. dollars, last year.
The slowing economy, as well as the unfolding financial crisis, pose a challenge for the Chinese Government.
But in November, the central government announced a 4 trillion yuan economic stimulus package aimed at boosting domestic demand, which brings some positive signs to the Chinese economy.
Wang Tongsan,a senior researcher with the Chinese Academy of Social Sciences, predits that China's econoimc growth this year is hopeful to maintain a target of 8 percent or even reach over 9 percent.
"As long as we completely adopt stimulus plans worked out by the central government, the possibility to achieve an 8 percent growth will be very high and the possibility to reach 9 percent or close to it is very favorable."
As a bunch of stimulus plans and "active" fiscal and "moderately active" monetary policies gradually take effect, December figures on money supply, consumption, and industrial output showed some positive changes.
But Yuan Gangming, an economist at Tsinghua University, says that the Central Government should make efforts to boost social investment particularly investment by private enterprises.
"As the private sector has overtaken the state-owned sector in the overall economy in China, we should adopt some preferential policies on lending so as to support social investment. So whether private enterprises can get enough money to re-invest or not will determine the trend of the Chinese economy this year."
In the meantime, many say it is high time for the central government to address the long overdue problem of socio-economic welfare system in China.
Wang Tongsan says that after all, when people have to count on their own savings as their safety net, consumption is more of a luxury than a necessity.(www.hxen.net)
"To achieve a higher consumption rate, the central government should firstly remove people's concern for their livelihoods such as education and social security.
Meanwhile, when we further improve the country's infrastructure, we should also pay attention to how to create more jobs. Because the consumption may eventually rise as people's income increases."
Some experts suggest that the financial crisis has provided a unique opportunity for China to implement an economic transition. In this way, China needs to dually maintain its economic growth and adjust its economic structure to the current situation.
Zhangcheng, CRI News.
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