WRAPUP 2heat sealer-China sees signs of economy responding to swift help
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China c.banker, top planner see signs of economicrecovery
Beijing to decide on new stimulus in light of data flow
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BEIJING, March 6 - China's economic leadersstruck a note of quiet confidence that the economy is alreadyreviving in response to swift action to counter the shock ofthe global financial crisis.
Premier Wen Jiabao disappointed financial markets onThursday by failing to announce an increase in a 4 trillionyuan ($585 billion) investment plan rushed out on Nov. 9 ascrumbling exports drained life from the world's third-largesteconomy.
But comments on Friday by a trio of top officials suggestedthat, while Beijing stands ready to prime the pump further,extra measures might prove unnecessary because substantialfiscal and monetary stimulus is already coursing through theeconomy.
"The economic figures are stabilising and recovering, whichdemonstrates that the policies have begun to show an impact,"central bank governor Zhou Xiaochuan said.
Speaking at a news conference during the National People'sCongress, the largely ceremonial parliament, Zhou said Chinahad learned the lesson from other countries that a sluggishresponse to the crisis delays the restoration of confidence.
"We must err on the side of being quick and decisive."
Zhou was speaking a day after Wen said China would ramp updeficit spending this year to hit its target of 8 percentgrowth, widely thought to be the minimum needed to keep a lidon unemployment and head off the threat of social unrest.
NO COMPLACENCY
Recent figures have suggested the economy may be on thecusp of a recovery.
New domestic-currency lending has surged since November andhit a record 1.6 trillion yuan in January, while surveys showmanufacturing is picking up from very depressed levels.
On the other hand, a tentative recovery in steel prices hasfaltered, and recessions in China's key export markets appearto be worsening.
Zhang Ping, head of the National Development and ReformCommission, the main planning agency, said Beijing would keeptracking the flow of economic data before deciding whetherextra stimulus was necessary.
"Of course, we can't complacently assume that we canentirely avoid the impact of the crisis or that our measuresare already enough to counter it," he said.
"But I believe that, with the measures that we've taken orwill take, we can have full confidence that we can escape thecurrent hardships and fully respond to this crisis, because inthe long term our economic conditions have not fundamentallychanged," Zhang added.
The officials made it clear that China still had plenty ofammunition to fire if necessary.
China's national budget deficit will jump more thansevenfold this year to over 1 trillion yuan. But that willstill be less than 3 percent of national income. The UnitedStates, by comparison, is budgeting for a deficit of 12.3percent of GDP.
"This is something that our country can handle and remainsat a safe level," Xie Xuren, the finance minister, said of theprojected deficit.
Likewise, Zhou said the central bank 工业除湿机 电磁流量计 除湿机 门禁 过滤机 クレジット 現金化 現金化 現金化
