Chief economist: no need for second economic stimulus package (3)

13:23, November 06, 2009      

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Q: How can we improve the current economic stimulus package? Does China need a second round of stimulus?

Yao: China's economic stimulus package includes: maintaining growth, promoting reform and structural adjustment, as well as benefiting the people's livelihood. This is in itself a very comprehensive package. As long as China develops and perfects the package, there is no need to turn to a second round.

As for how to improve the economic stimulus package, I think that the Chinese economy still has to address the difficulties it is currently facing and its deep-seated problems. China should enhance policy to support increasing farmers' incomes and take more action in structural adjustment.

Q: In your opinion, will those preferential policies introduced to stimulate consumption this year continue next year?

Yao: In general, first of all, we are to maintain the continuity and stability of policies. In this respect, at least policies to encourage consumption and expand consumption will not have much change. From the scientific development perspective, we should change the current growth pattern of over-reliance on investment, making consumption the most important pulling power of national economic growth. We must do everything possible to develop new economic growth. Policy in this area will only be strengthened.

By People's Daily Online

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