According to Zhang Liqun, Vice Secretary of Academic Committee of State Council Development Research Center, with the implementation of proactive fiscal policy and moderately relaxed monetary policy China can achieve its 8 percent economic growth target this year.
On March 28, experts from different government departments and research institutions participated in a Globe Magazine forum, "Financial Crisis and Global Order: Objective and Approaches". Most of them held the opinion that China could achieve economic recovery and rapid growth although the global economy is facing severe problems.
Zhang Liqun also pointed out at the forum that China does indeed have the wherewithal to maintain domestic economic development, because the country has not only a broad base of potential domestic market demand, but also a solid background of funds, technology and labor.
"The Chinese government started to implement macro-adjustment policies in the last quarter of last year, leaving time and space enough to deal with the crisis," said Wang Yiming, vice director of the Academy of Macroeconomic Research, NDRC. "In addition, China has also taken a series of measures to stimulate domestic demand, such as expanding investment and consumption, implementing industrial restructuring and revitalization plans, and strengthening social security. Although China can't achieve an immediate economic rebound, stable growth in China's economy must make great contribution to recovery in the rest of the world."
At the forum, experts expressed their common expectations of the upcoming London summit, hoping to promote financial system reform, thereby improving the external environment for China's economic development.
According to Jiao Jinpu, deputy director of the Research Bureau of the People's Bank of China, this global financial crisis has shown the urgent need to establish a new international financial order, in which emerging economies including China can have more decision-making power and a stronger voice.
Ma Zhengang, director of the China Institute of International Studies, Ministry of Foreign Affairs, said that China would try its best to play a positive role in international cooperation to combat the crisis, but meanwhile China should ensure the interests of Chinese people and the balance between the country's obligations and their rights.
(China.org.cn by Ma Yujia, April 1, 2009)
