Latest News:  
Beijing   Sunny    20 / 5   City Forecast

People's Daily Online>>China Business

Three major economic tasks challenging China

(People's Daily)

16:11, March 27, 2012

Edited and translated by People's Daily Online

Since the Reform and Opening-up, China has achieved rapid economic development, but it has also amassed many contradictions and problems, including major urgent economic problems and long-term macro-economic problems. At present, China should pay particular attention to three economic tasks.

The first task is controlling price levels.

Prices of major energy sources continue to stay high, and the upward trends in labor costs and prices of major industrial and consumer goods remain largely unchanged. As the technological level and labor productivity cannot improve greatly in the short term, the increase in companies’ production costs is bound to push up the overall price level. Therefore, the country should attach great importance to ensuring price stability and preventing prices rebound.

The second task is continuing property cooling measures.

The Chinese government’s property cooling measures are paying off as most cities in the country have witnessed home price declines on a month-on-month basis since the beginning of the year. However, the downward trend in home prices lacks a solid foundation, and home prices are still far from a reasonable level. Industry insiders believe that the government is in “confrontation” with real estate developers.

The central government should continue the property cooling measures, and prevent local governments from easing home purchase restrictions; otherwise even the achievements it has made will be wasted. In addition, the central government should make more use of economic tools such as taxation and loans than administrative means to curb runaway property prices and to promote the healthy development of domestic real estate market in accordance with the market rules.

【1】 【2】


Leave your comment0 comments

  1. Name


Selections for you

  1. Porcelain tower in Jingdezhen

  2. Blood collected from panda

  3. Moon, Venus and Jupiter conjunction

  4. China's escort fleet successfully expels suspected pirates

Most Popular


  1. South China Sea mapping underway
  2. Safer world, safer energy
  3. Keep talking, Hu urges
  4. US' human rights violations
  5. Leung wins Hong Kong election by wide margin
  6. China yet to be a sea power
  7. Prevent nuclear terrorism
  8. Conditions needed for Annan's peace mission
  9. Will Syria crisis be transformed into an opportunity?
  10. Chinese economy will not suffer a hard landing

What's happening in China

Website helps ex-convicts find jobs

  1. Excessive traffic construction brings financial risks
  2. China's urbanization leaves rural land unattended
  3. 3 students dead, 14 injured in China road accident
  4. China's Forbidden City robber appeals jail term
  5. China regulates funeral ahead of Qingming

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