Chinese premier says economy improving
BEIJING — Premier Wen Jiabao says China's economy is showing "positive changes" but called for more efforts to combat the impact of the global financial crisis, state media reported Sunday.
The economy showed "better than expected positive changes in the first quarter" due to Beijing's huge stimulus, Wen said at an Asian summit in Thailand, the Xinhua News Agency, state radio and other outlets reported.
Citing improved investment, consumption and trade figures, Wen said some segments of the economy "are in a process of gradual recovery," Xinhua said. Those data were reported earlier and the premier gave no forecast of first-quarter economic growth, which China is due to report this week.
Some analysts see a recovery taking shape in China as the 4 trillion yuan ($586 billion) stimulus boosts credit growth and demand for steel and other materials. But they caution the indicators are tentative and show mostly the effect of government spending, while private consumption and investment are weaker.
China's economy is forecast to grow by at least 5 percent this year — the fastest rate of any major country, though down from last year's 9 percent and 2007's 13 percent. Chinese banks have avoided the turmoil that is battering Western financial systems.
Trade data reported Friday showed March exports falling 17 percent, but that was less severe than February's 25.7 percent plunge. A survey of companies released two weeks ago showed Chinese manufacturing expanded slightly in March after a painful months-long contraction that wiped out at least 20 million jobs.
Wen, the country's No. 3 leader and top economic official, called for continued vigilance, China National Radio reported on its Web site.
"As the crisis has not touched its bottom, we can hardly say that the Chinese economy alone has got out of the crisis," he said. "What we should do is to exert our utmost efforts to minimize the effect of the crisis."
The communist government worries about unrest if more jobs are lost.
Wen was asked whether Beijing would launch additional stimulus efforts and said Beijing would step up efforts to carry out the current plan, state radio reported. Wen said last month the communist government was ready to enact additional plans if the impact of the crisis worsened.
"It is essential to closely follow up the changing economic situation at home and abroad, and hammer out new response plans whenever necessary," Wen said, according to China Radio International.
Recent comments
The Chinese economy is improving because of decades of diplomacy -...
Thank the Republicans! | April 12, 2009 at 8:12 a.m.
Of course the economy is improving, you just bought out the U.S....
Aso | April 12, 2009 at 4:34 a.m.
Chinese workers buys foods during their lunch break outside a building construction site in Beijing, China, last week. Premier Wen Jiabao says China's economy is showing "positive changes" but called for more efforts to combat the impact of the global financial crisis, state media reported Sunday.
- Kirilenko heating up for the Jazz 11:45 p.m.
- Jazz outlast Pistons in overtime 11:40 p.m.
- Angel placed atop temple 11:40 p.m.
- Thanksgiving's roots 11:39 p.m.
- Becky Thomas: Romantic spots 11:39 p.m.
- YSAs hold tournament 11:38 p.m.
- Chad Lewis gives great message 11:38 p.m.
- Lalas: L.A. is the favorite 11:38 p.m.
- Seattle a model for MLS 11:38 p.m.
- Church News viewpoint: 'This day' 11:37 p.m.
- Glenn Beck to enter politics?
- Can BYU throw vs. Air Force?
- Cougars cruise to victory in Hawaii
- Huntsman blasts media over trip
- Christian leaders not backing down
- Police link alcohol to murder
- TCU still has a chance
- Orem man acquitted in tot's death
- Hall breaks BYU record with win
- Religion cited in deportation fight
- Buttars wants to limit gay rights laws
192 - Palin plans tour stop in Utah
173 - Glenn Beck to enter politics?
126 - Palin's book shows she's unqualified
122 - Officer cleared in Cardall Taser case
103 - BYU cuts Women's Research Inst.
100 - Jazz finally win in San Antonio
98 - Hall breaks BYU record with win
93 - Utes knock off rival Aggies
93 - Huntsman pleased with Obama
87
There's a lot of reason to leave your plastic home as you shop:
I don't pretend to be an expert on global warming. I've met with...
I am a ute fan, but I really love the cougars. I am a great ute fan, but the...
Any congressman who votes for this health care bill should be sent home....
It's already tough enough to swallow awful losses, but beating up on small...
AK belongs on the ballot long before Millsap. I thought he was supposed to...
The biggest joke is this sentence, "Provo recently restructured Broadweave's...
I am still waiting to see a football player tackle someone on the opposing...
Not the prettiest game, but Carlos finished extremely well. Lets see how long...
Whether or not the jury felt he was not innocent doesn't change the fact that...
are you kidding me ? those "pesky" seniors were a big part of binghams team...
guns don't kill people....people with guns kill people.

