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China's economy in mild recovery

(People's Daily Online)

16:24, September 10, 2012

The new US Ambassador Gary Locke delivering a speech to US business leaders in Beijing on Sept 20, 2011. [File Photo/China Daily]

China Business News

No limits to Chinese investment: U.S. ambassador

The United States welcomes more Chinese investment and there is virtually no sector that is off-limits to Chinese investors, U.S. ambassador to China Gary Locke said on Saturday.

He made the remarks at the ongoing 16th International Fair for Investment and Trade in the southeastern city of Xiamen.

Locke said although the foreign direct investment flows between the world's two largest economies had grown rapidly in recent years, there are still plenty of room for growth. [Read more]

China's economy to see mild pickup: expert

China's economic growth is expected to see a mild pickup at the end of this year that will provide room for structural adjustments, Ba Shusong, a researcher with the State Council Development Research Center, said Sunday at the ongoing 16th International Fair for Investment and Trade being held in southeast China's city of Xiamen.

Ba said that with China's pro-growth policies gradually taking effect, the economy has bottomed out and will see mild expansion this year and next year. [Read more]

China has major role in world economic recovery

China will lead the global economic recovery with its relatively fast GDP growth driven by stimulus plans and expanding domestic demand, the United Nations Conference on Trade and Development said on Sunday.

"Though China's economy is not expanding as fast as before, its GDP accounts for a growing share of the world economy," said Li Yuefen, head of the Debt and Development Finance Branch of the UNCTAD. [Read more]

'Foreign investment, capital' spur growth

China should attach more importance to cross-border investment and the development of emerging industries to upgrade its industrial structure, according to trade officials, as a new era of industrial competition reshapes the global value chain.

"The use of foreign capital and outward foreign investment are shortcuts for Chinese enterprises entering the global value chain," said Liu Yajun, director of the foreign investment administration at the Ministry of Commerce, at the China International Fair for Investment and Trade in Xiamen, Fujian province, on Sunday. [Read more]

China unlikely to encounter debt crisis

China's net sovereign assets amounted to 70 trillion yuan ($11.06 trillion) in 2010, and there is little possibility that the country will encounter a sovereign debt crisis in the long-term period, a senior government adviser said over the weekend.

The figure is a response to increasing international suspicions on China's sovereign debt situation, Li Yang, vice president of the Chinese Academy of Social Sciences (CASS), said at a seminar on China's sovereign balance sheet held Saturday in Beijing.

China's net sovereign assets, calculated as the country's sovereign assets minus liabilities, continued to increase between 2000 and 2010, which means the country has the ability to pay off its debt, Li said. [Read more]

 



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