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Home >> Business
UPDATED: 15:06, July 28, 2006
Chinese Premier on stemming somewhat fast developing economy from turning overheated
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Photo:Chinese Primier Wen Jiabao delivers a speech at the meeting Wednesday on Chinese economic situation of the first half of the year, and the plan for the economic work in the latter half.
Chinese Primier Wen Jiabao delivers a speech at the meeting Wednesday on Chinese economic situation of the first half of the year, and the plan for the economic work in the latter half.
Chinese Premier Wen Jiabao called for steady and continuous economic growth in the second half of the year at a national televised meeting of the State Council held Wednesday in Beijing.

Economy has been developing smoothly in China since the beginning of the year, with good summer-harvested grain yields, industrial restructuring at a fast pace, growing consumption, stable price and continued improvement in people's livelihoods, Wen said. Remarkable progress has been made in social and economic development, and significant reforms carried out.

Wen demanded more efforts in the following areas:

  • Developing agriculture and increasing farmers' income.

    Continuous efforts should be made to ensure autumn grain production for a stable output of the whole year, to implement the policy of the minimum grain purchasing price, to step up the supervision over the marketing of agricultural production means and to broaden channels to increase farmers' incomes. Comprehensive reform in rural areas should be deepened. And efforts should be focused on developing agricultural production and increasing farmer's income in the course of building up socialist new villages, and formalism has to be opposed.

  • Curbing overheating in fixed assets investment.

    The crux of matter lies in the rigid control over land and credit distribution and market accession. Continued efforts should be made to strengthen land regulation and management, highlight responsibility on land management and farmland protection, strictly tighten the approval procedures for the land use and penalize the illegal use of land. The system of compensating for the requisition of land should be beefed up and both the income and expenditure for land transfer standardized.

    Credit structure should be optimized, and comprehensive measures taken to reduce bank liquidity. The RMB exchange rate mechanism should be further improved so as to gradually increase its floating flexibility.

    Examination and inspection in market accession should be enhanced, newly launched projects be sorted out, strict examinations be done to various applied projects and standards for market accession of various trades verified .

  • Further controlling the real estate market.

    Regulations on housing property market should continued to be stepped up and consumption modes to be kept in line with China's specific national conditions, housing supply structure to be adjusted, real estate market order to be further rectified and skyrocketing housing prices to be firmly curbed in some cities.

  • Increasing efforts to save energy and protect the environment.

    Emphasis should be laid on effective energy saving in key enterprises and large projects, with acceleration of building an energy-saving industrial structure and improvement of mechanism, regulation and bulletin system. Targets on the emission control of sulphur dioxide and chemical oxygen demand (COD) should be earnestly observed in cities and enterprises at all levels. Efforts should also be stepped up for pollution management in major river valleys and areas, environment monitoring and law enforcement.

  • Boosting consumption.

    Premier Wen called for more substantial efforts to increase citizens' income, especially those of low-income urban dwellers and rural farmers, fully carry out the minimum salary standard and minimum hour-payment system, and ensure the payment of migrant workers from the countryside. The consumption environment should also be improved.

  • Promoting structural adjustment.

    Redoubled efforts should be made to spur the growth of service trades, high-tech industries of low energy consumption and pollution and to bridle the development of those of high energy consumption and pollution. And at the same time, the development of scientific, technological and educational undertakings should be advanced .

  • Promoting reforms in different areas.

    The reform direction of socialist market economy should be adhered to, with still bigger scope attached to the basic role of market in resource distribution, and market system and macro-regulation improved, and the guarantee of the scientific outlook on development be instituted. Particularly, reform on the transfer of government functions should be accelerated to earnestly realize the separation of government management from enterprise functions.

  • Boosting the level of opening up to the outside world.

    Concentrated efforts should be made on the transfer of trade growth pattern and import/export structure optimized. The efficiency in the use of foreign investment should be improved and the use of investment drawn from overseas standardized. Qualified enterprises are encouraged to go global for investment.

  • Addressing earnestly concerns of the masses of people.

    Issues relevant to the interests of the people be addressed in real earnest, such as employment, schooling, medical care, land requisition and the relocation of urban and rural residents, enterprise reform, environmental pollution and workplace safety. Disaster prevention and rescue work should be enhanced and social stability be maintained.

    By People's Daily Online

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