China “Succeeds” in Offsetting Crisis
Chinese leaders are claiming “initial success” at overcoming the problems brought on by the economic recession that is affecting much of the world. In a statement released on Sunday, Premier Wen Jiabao reported that the Chinese economy performed better than expected during last month, which was some welcomed news, not only for China but also the rest of the world.
Premier Wen made the speech during a 3-day visit to industrial regions of eastern China. He claimed that sales of some companies had begun to rebound. Inventories are beginning to decrease while electrical consumption is rising.
“We have achieved initial success from the policies we adopted to counter the financial crisis,” the premier said, according to China National Radio.
The premier also vowed that the government will continue to take other measures to combat the economic downturn. This is to include making large or accelerated investments in totalling CNY600 billion in 6 projects already identified of being of scientific or technical value over the medium to long term.
It was recently reported by the Dow Jones that Chinese exports fell 2.8 per cent in December. Official figures have not yet been released. Because imports also fell, many believe fear that the country is not only being affected by the global economic slowdown but also by a weakening of internal demand.
James Gonzalez, Market Analyst at Obelisk, finds the efforts made by the Chinese central government reassuring for overseas investors. “It appears most of the world is in agreement that the way to best exit the global downturn is to confront it head-on and I’m glad to see that the Chinese leadership is also in accord.”
For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).
Email: info@obeliskinternational.com or visit our website: http://www.obeliskinternational.com./
For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com.
Premier Wen made the speech during a 3-day visit to industrial regions of eastern China. He claimed that sales of some companies had begun to rebound. Inventories are beginning to decrease while electrical consumption is rising.
“We have achieved initial success from the policies we adopted to counter the financial crisis,” the premier said, according to China National Radio.
The premier also vowed that the government will continue to take other measures to combat the economic downturn. This is to include making large or accelerated investments in totalling CNY600 billion in 6 projects already identified of being of scientific or technical value over the medium to long term.
It was recently reported by the Dow Jones that Chinese exports fell 2.8 per cent in December. Official figures have not yet been released. Because imports also fell, many believe fear that the country is not only being affected by the global economic slowdown but also by a weakening of internal demand.
James Gonzalez, Market Analyst at Obelisk, finds the efforts made by the Chinese central government reassuring for overseas investors. “It appears most of the world is in agreement that the way to best exit the global downturn is to confront it head-on and I’m glad to see that the Chinese leadership is also in accord.”
For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).
Email: info@obeliskinternational.com or visit our website: http://www.obeliskinternational.com./
For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com.
Labels: China, economy, finance, foreign investment, property
posted by Alison Kane at 11:57 am
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