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People's Daily Online>>China Business

Structural optimization vital to Chinese economy (2)

By Zhou Xiaoyuan (People's Daily Overseas Edition)

15:29, December 14, 2011

Investment strength to be maintained only by structure optimization

China's internal economic situation is also worrisome in addition to the impact of external factors. Xu Hongcai has pointed out that the situations of both domestic investment and consumption are not optimistic.

Currently, the investment shows a continuous downward trend, and there is no consumption hot spot, making Chinese unwilling to spend. In addition, the economic downturn leads to a decline in people's income, resulting in the further decline of consumption.

"The economic work conference will focus on boosting investment to improve the people's lives and to encourage domestic consumption," Ba said, adding that investment, rather than exports, will help China cope with various crises and promote economic growth next year.

Xu stressed that the Chinese government should increase financial support for small and micro-sized enterprises and encourage investment in the services, creative culture, high-end manufacturing and emerging strategic industries.

This is the way to boost the growth of gross domestic product (GDP), job opportunities, income and consumption as well as to improve the demand structure. The chain reaction triggered by adjustments to the investment structure can enhance the internal driving force for economic growth.

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