2016年CRI China Can Deal with Economic Challenges: Official

 

U.S. billionaire investor¹ George Soros recently said China's economy was heading for a hard landing as last year's economic growth registered the slowest annual expansion in a quarter of a century.

Commenting on the concern, Xu Shaoshi, head of the National Development and Reform Commission, says a hard landing is unlikely.

"The hard landing forecast has been repeatedly mentioned following the 2008 global financial crisis. This is unlikely to happen for China's economy. Just look at the positive factors - sound fundamentals, enormous market demand, rising production quality and more sophisticated government regulation. China's steady growth and bright economic outlook will show that opinion cannot hold water."

Xu Shaoshi also noted² that although growth has slowed, it is still within a reasonable range.

"Last year, China's GDP growth rate was 6.9 percent, but it was in line with the official target of around 7 percent. Globally, China's economic growth is still at the top. According to data released by the International Monetary³ Fund, the Chinese economy contributed over 25 percent to the global economic growth and it is still an important driver for global economic growth."

The head of the NDRC also points out that the slowdown has not made China less attractive for foreign investors⁴.

"Foreign investment has not decreased. Official data shows foreign direct investment into the Chinese mainland, which excludes investment in the financial sector⁵, rose 6.4 percent year on year to over 126 billion U.S. dollars last year. The U.N. Conference on Trade and Development has listed China as a favored market by multinationals⁶ from 2015 to 2017."

As for the employment situation, Xu Shaoshi describes it as better than expected.

"During the past year, 13.12 million new jobs were created in cities and towns as against the goal of 10 million. The unemployment rates either got by survey or shown by registration⁷ were not high, so it can be said the employment situation is quite stable."

At the same time, Xu Shaoshi admits the job condition in provinces such as Shanxi, Heilongjiang and Hebei will be hurt by the country's attempts to reduce industrial overcapacity.

But he says that central and local governments will have policies to deal with increased unemployment.

For CRI, this is Luo Wen.

1 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

2 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

3 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

4 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

5 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

6 multinationals   

跨国公司( multinational的名词复数 )

参考例句：

• These local companies are only small fry compared with the huge multinationals. 同那些跨国公司比，这些当地的公司不过是小鱼小虾。
• Some people believe that the multinationals have too much power. 有人认为跨国公司的权力太大了。

7 registration   

n.登记，注册，挂号

参考例句：

• Marriage without registration is not recognized by law.法律不承认未登记的婚姻。
• What's your registration number?你挂的是几号？