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Russian media highlight Chinese premier's Boao speech on economy
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20:58, April 20, 2009

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China's economic stimulus measures and their positive results mentioned by its premier in a Saturday speech have caught the attention of Russian media and received positive responses from them.

Chinese Premier Wen Jiabao talked about his government's efforts to curb the economic crisis in a keynote speech entitled "Strengthen confidence and deepen cooperation for win-win progress" at the opening plenary meeting of the Boao Forum for Asia (BFA) on Saturday.

The anti-crisis measures of the Chinese government have achieved results beyond expectation, said the Interfax news agency.

China's package plan is already "paying off," and positive changes have taken place in the economy, the Interfax quoted Wen as saying.

China's economic situation is "better than expected," the RIA Novosti news agency cited Wen as saying.

In the first quarter of this year, China's gross domestic product (GDP) rose 6.1 percent, 2.68 million jobs were created in urban areas, per capita urban disposable income grew 11.2 percent and per capita rural cash income rose 8.6 percent year on year in real terms, the RIA Novosti noted.

It said that China's 4-trillion-yuan anti-crisis stimulus measures dedicated to boosting domestic demand and economic growth have been widely applied to infrastructure sectors.

An article entitled "China takes the lead in surviving the crisis," which was published on the Website of Russian Finance magazine on Saturday, spoke highly of the Chinese government's anti-crisis efforts.

It cited Wen as saying that China's stimulus plan has taken effect, as growth in investment, consumption and industrial output and agricultural production have marked a renaissance of the Chinese economy.

The article pointed out that although China's GDP grew at the slowest pace in a decade, the confidence to tide over the crisis soon has prompted China to set up a 10-billion-U.S.-dollar "China-ASEAN Fund on Investment Cooperation" to support infrastructure development in the region.

The three-day BFA Annual Conference concluded Sunday in the Boao town in south China's island province of Hainan.

The event had attracted more than 1,600 political leaders, business people and academic scholars for discussions about the role of Asia in combating the financial crisis.

Source: Xinhua

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