China'S Economy Will Rebound In The Second Half Of Next Year

Du Dawei, director of the world bank's China and Mongolia Bureau, said on the twelve day that China's economic growth will remain eight percent next year, which may face challenges. However, we believe that the fiscal stimulus policy will be effective, and that the possibility of a rebound in the second half of this year will also be favorable for the export industry.

At the annual meeting of Finance and economics held today, Du Dawei said that in the context of the global economic slowdown, China's situation was not bad, but the sharp decline in exports in November showed that the global economy had already affected China.

He predicts that China's economic growth rate may be seven point five percent in the two OO nine years, but China's fiscal incentive policy will be effective. It is believed that the economic situation may rebound in the second half of this year and the export industry will also improve accordingly.

Jin Liqun, director general of China Investment Co, said at the annual meeting that the central government's growth and expansion of domestic demand, "ten countries" and "nine countries" were introduced to help "protect eight" or "explore nine" in a timely manner, but the policy emphasis should not be on "eight guarantees", but on the implementation of policies and the quality of economic growth.

Stimulating economic measures to promote many projects should prevent a new round of bad loans in bank loans.

Du Dawei said that China's investment plan is mainly infrastructure projects, but it has little support for labor-intensive industries. He said that there are still many ways to expand consumption in China. It is proposed to introduce corresponding fiscal policies to raise people's income and prevent consumption reduction due to panic.

Most participants believed that China's expansion of investment should be in line with in-depth reform.

Jin Liqun believes that when the economy is going up at high speed, the adjustment of the economic growth structure is very difficult, but at the moment, the economic downturn is a great opportunity to further reform and adjust the economic structure.

Du Dawei said that China should take advantage of the opportunities of the financial crisis to change the export dependent economic growth mode and become the biggest winner in the global financial crisis.