Macro-economic Control Benefits Chinese Economy's Sustainable Growth

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Last updated at: (Beijing Time) Saturday, November 02, 2002

Macro-economic Control Benefits Chinese Economy's Sustainable Growth

The rapid and sustainable growth of China's economy is due to the effective macro-economic control policies of the Chinese government.

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The rapid and sustainable growth of China's economy is due to the effective macro-economic control policies of the Chinese government.

Zheng Xinli, deputy director of the Policy Research Office of the CPC Central Committee, made the remarks at the recently-concluded Macro-Economic Forum on China and the Association of Southeast Asian Nations, held in Kunming, the capital of southwest China's Yunnan province.

According to Zheng, from 1997 to 2001, China's economy successfully withstood the blow from the Asian financial crisis, maintaining a 7.6 percent GDP growth rate year-on-year and a minus1 percent residential consumer price index over the same time.

From January to September this year, China's state economy keptup a sound development.

During this period, China's GDP rose 7.9 percent over the same time last year, while fixed assets investment was up 21.8 percent and the volume of consumer retail rose 8.7 percent.

After 1989, the Chinese government learned to use such leverages as fiscal, monetary, industrial and trade policies for alarge-scale control of its economy.

Zheng said four macro-control policies -- a positive financial policy, financial risk prevention, breeding a new consumer market and encouraging non-governmental investment -- contributed much tothe success of China's economy in recent years.

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