Space Industry and Business News  
POLITICAL ECONOMY
Wen says China growth in line with expectations

by Staff Writers
Beijing (AFP) July 18, 2010
Chinese Premier Wen Jiabao said Sunday that a slowdown in second quarter growth to 10.3 percent was in line with expectations, but warned of economic difficulties ahead.

Wen made the remarks during a weekend tour of north China's Shaanxi province where he said the slow pace of the global economic recovery posed dangers to his nation, according to a report on his government's website.

"So far this year, our nation's economy is continuing to develop in the direction set by our macro-economic controls," Wen was quoted as saying.

"The progress made has not come easy. Faced with the current situation, we must ... fully anticipate the difficulties and problems ahead and strengthen our awareness of the dangers."

China announced last week that its economic growth slowed in the second quarter, as massive stimulus spending was scaled back and moves to rein in soaring property prices started to bite.

Gross domestic product in the world's third-largest economy maintained double-digit growth for the third quarter in a row, expanding 10.3 percent in the three months to June, according to the National Bureau of Statistics.

"The global economy is recovering, but at a slow pace. There are many uncertainties. We should expand domestic demand while stabilising overseas demand," Wen said during his inspection tour.

"Only through sound and relatively fast economic growth can we ensure employment and facilitate the restructuring of our mode of economic development."

During a visit Shaanxi Automobile Group Co and the Shaanxi Huasheng (Group) Corp Fruit Co Ltd, Wen said his government would deepen efforts to wean the economy off its dependency on exports and further stimulate domestic demand.

The government will also implement policies aimed at helping Chinese companies develop new products and expand market reach, he said.

China's second quarter figure marked a slowdown from the blistering 11.9 percent growth in January-March and the 10.7 percent in the last three months of 2009, after Beijing introduced a range of measures to cool the red-hot economy.

The latest data add to mounting evidence that the Chinese economy is losing steam, although Beijing has so far shown no intention of reversing tightening policies, and analysts downplayed the risk of a sharp let-up.



Share This Article With Planet Earth
del.icio.usdel.icio.us DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook



Related Links
The Economy



Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News


POLITICAL ECONOMY
China's growth slows in second quarter
Beijing (AFP) July 15, 2010
China said Thursday its economic growth had slowed in the second quarter, as massive stimulus spending was scaled back and moves to rein in soaring property prices started to bite. Gross domestic product maintained its double-digit growth for the third quarter in a row, expanding 10.3 percent in the three months to June, according to the national statistics bureau. The second quarter fig ... read more







POLITICAL ECONOMY
One Tiny Satellite In Space, Whiz Kids Plan Two More

iPad and other gadgets drain Asia of electronic components

Art In Space - Or, How To Set Up A Formation

Tokyo trials digital billboards that scan passers-by

POLITICAL ECONOMY
Savi Ships Compact Mobile Tracking Systems For Marine Afghan Forces

Army Plans Network Integration Exercise

Gilat To Provide Broadband Satellite For Homeland Security In Asia

Critical Design Review For U.S. Navy CSD Program

POLITICAL ECONOMY
Sea Launch Signs Launch Agreement With AsiaSat

PSLV Launch Successful With 5 Satellites Placed In Orbit

ISRO To Launch More Satellites This Year

ILS Successfully Launches The Echostar XV

POLITICAL ECONOMY
Lockheed Martin Unveils GPS Exhibit At UN

Tracking System Leads Rescuers To Birds Caught In Gulf Of Mexico Oil Spill

New System Helps Locate Car Park Spaces

Skyhook Wireless Partners With Samsung Electronics For Leading Location System

POLITICAL ECONOMY
China jumbo jet maker picks GE, Eaton as suppliers

Swiss solar plane makes history with round-the-clock flight

Solar Impulse plane packed with technology

Piccard dynasty roam unknowns in sky, sea, sun

POLITICAL ECONOMY
Acer, Asus and Lenovo lead pack as PC sales surge

Intel posts 'best quarter' ever

Cloud Computing Problems Can Spot Before They Start

India's poor scrape a dangerous living in new 'e-waste' jobs

POLITICAL ECONOMY
NASA Goddard Was In The Earthquake Zone

A Puzzling Collapse Of Earth's Upper Atmosphere

Britain unveils Google Earth map showing temperature rises

GOES Brings Hurricane Alley Live To The Wireless

POLITICAL ECONOMY
Experts fear long oil effect on marine life, food chain

Hope peeks out over oil-weary Gulf Coast

$4 million in fines for polluting company

Greenpeace slams 'destruction' of the Spanish coast


The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement