Latest News:  
Beijing   Sunny    6 / -4   City Forecast

People's Daily Online>>China Business

"China engine" expected to roar ahead amid global economic woes

(Xinhua)

15:19, March 04, 2012

BEIJING, March 4 (Xinhua) -- As the second largest economy of the world, China has been viewed as a major engine for global economic growth. Confronted with widespread economic hardships, the world hopes China to continue to play a key role in boosting global economy.

STRONG CHINA GROWTH

A recent meeting of Group of 20 finance ministers and central bankers noted that the world economy had showed signs of moderate recovery, but faced considerable downward risks, given continued turbulence in the international financial markets, rising oil prices and high unemployment in many countries.

According to an interim economic report published in mid-February by the European Commission, the economic output of the 17-member euro zone is forecasted to shrink 0.3 percent in 2012 and the contraction for debt-laden Greece is put at a staggering 4.3 percent.

On the other side of the Atlantic, statistics showed that the U.S. economy is still overshadowed by many factors including mounting debts, a weak property market and investment slowdown.

In strong contrast, emerging economies such as China have staged impressive economic performances in recent years, becoming important "stabilizers" in global finance and more significant players in promoting readjustments to the world economic landscape.

Against the backdrop of weakening external demand and ongoing economic structural reform, China registered an economic growth rate of 9.2 percent in 2011.

The country's leading think tank, the Chinese Academy of Social Sciences, said the Chinese economy is expected to grow 8.9 percent in 2012 unless there is significant deterioration in the international political and economic situation, massive natural disasters or other major disturbances.

【1】 【2】 【3】

Email|Print|Comments(Editor:雪萌)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Chinese leaders join panel discussions, Hu stressing stability in Tibet

  2. Wounded Chinese workers in Congo blasts to head home

  3. Marvellous spectacles of extreme weather

  4. Odd-looking animals around world

Most Popular

Opinions

  1. Facing problems forges confidence for development
  2. Defense budget guards peaceful intentions
  3. Will China's economy keep growing or slow down?
  4. Chinese products bring benefits to U.S. consumers
  5. Is international 'hot money' flowing into China?
  6. China's economy to roar ahead amid global woes
  7. U.S. solution to Syria issue doomed to failure
  8. Trust key to stability on Korean Peninsula
  9. Public will increasingly swaying diplomatic policies
  10. Political dialogue is right solution to Syrian crisis

What's happening in China

Students may get sporting chance

  1. Tourism resort seeks credibility after scandal
  2. Road rage killer sparks public fury
  3. Strong earthquake jolts sparse area in Xinjiang
  4. Women own more than 55% of houses in Beijing
  5. Wuhan to set up police team to ensure food safety

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai