China Economic ReviewPremier Zhu Rongji has pledged more government spending on welfare and income support to cushion job losses and cuts in farm income as China’s economy adjusts to international competition within the World Trade Organisation. Speaking to the National People’s Congress, he said the government would help workers who lost jobs in uncompetitive industries. He also […]
The governor of the people’s Bank of China, Dai Xianglong, told the National People’s Congress that China’s debts, though rising, were still under control, South China Morning Post reported. He said that the budget deficit remained at under 3 per cent of GDP – close to what the International Monetary Fund considers an unsafe level. […]
China is keen to improve rail connections with its neighbours in order to sustain the country’s rapid export growth in Asia and increase its political influence in the region. China has one of the largest rail networks in the world. By the end of 2000, the country’s total rail length was 68,000km, of which 12,000km […]
Finance minister Xiang Huaicheng told the National People’s Congress that government expenditure in 2002 would total Yn1,370bn, over 10 per cent more than last year. He attributed the rise to aid to the agricultural sector and increased spending on social secu- rity. The budget deficit is estimated at Yn309.8bn, 29 per cent higher than in […]
A new list of sectors of the economy that are closed to foreign investment will come into effect on April 4, Xinhua said. The number of sectors barred to foreign investment has fallen to 75 from 112 in 1997. Those sectors still closed to foreign investors include strategic parts of the economy, such as power […]