Xi urges fine-tuning of policy for growth goal

Xi

The mainland faces downward economic pressure and needs to fine-tune policies to hit full-year development targets, a meeting chaired by President Xi Jinping concluded yesterday, without mentioning any specific measures.

Beijing has so far refrained from a massive stimulus after reporting first-quarter economic growth of 7.4 per cent, the slowest pace since 2012.

“The overall economic situation matches macro control efforts and expectations for development,” said the Political Bureau of the Communist Party’s Central Committee, the core of the mainland’s leadership.

“Downward pressure still exists. We must not underestimate some difficulties and must pay high attention to potential risks,” it added, pointing to the uncertain global outlook.

The meeting also said the mainland must increase support of the real economy and ensure reasonable liquidity. In its latest move, the country cut the reserve requirement ratio for rural lenders by 200 basis points this week, a small step to bolster rural development. Almost half of the economists polled by Bloomberg said they expected Beijing to lower the ratio nationwide this year to stem further slowdown.

“We must adjust the meaning [of the basic policy thrust] in accordance with the change in situation and try our best to achieve this year’s targets of economic and social developments,” said a statement on the government’s website after the meeting.

Xi renewed calls to speed up railway and clean-energy infrastructure in the central and western regions, urbanisation, fiscal and financial reforms as well as the revival of the northeastern industrial base, but stopped short of detailing the steps to do so.

 

 

 

 

 

Source : South China Morning Post | April 26, 2014

Advertisements

About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
This entry was posted in Business, Economy, Global Sourcing and tagged , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s