China aims for stable economic growth

China has announced that its priority for the year ahead is stable economic growth.
Premier Wen Jiabao has acknowledged that more needs to be done to boost its domestic demand, the state press noted.
The official Xinhua News Agency reported that the government’s top economists are looking at ways of delivering a greater number of stimulus measures to ensure that growth occurs at a pace that is in line with expectation at a senior level.
“We must remain clear headed, fully recognise and pay a high level of importance to the prominent contradictions and problems in our economic work (and) resolutely place higher priority on stable growth,” added president Hu Jintao.
Such news will be music to the ears of British professionals moving to China, keen as they are to join a bustling economy where opportunities are plentiful.
Other efforts to enhance domestic growth have included cutting interest rates, reducing the minimum amount of reserve funds banks must have to encourage more lending and earmarking more cash for infrastructure projects like property construction.
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