NDRC Has No Appetite for New Stimulus Package

　　China's top economic planner says it has no appetite to create any new stimulus¹ packages to shore up the economy.

 

　　CRI's Ding Lulu explains.

 

　　The National Development and Reform Commission is playing down the idea of new stimulus. It is meant to cool speculation² the government was considering sidelining its economic restructuring in the second-half of the year in favor of trying to revitalize growth.

 

　　The speculation has been growing, given that earlier this month, the central government reinstated a series of high-speed railway projects in the country's central and western regions.

 

　　The Chinese economy has slowed to a 7.5 percent growth in the second quarter, which is the lowest growth rate in over 20 years.

 

　　As such, the renewed railway projects, along with a renewed interest in urban construction, have led many to speculate the government is spearheading a new set of projects to boost growth.

 

　　However, Fan Jianping, the NDRC's chief economist³ told foreign journalists on Wednesday that not even a mini-version of a stimulus package should be expected for the rest of this year.

 

　　"The recent installation of key infrastructure⁵ projects should not be viewed as anything close to a stimulus. These projects were set as part of the 12th five-year plan and we are just carrying out as to what is already on the blueprint⁶."

 

　　Fan says the renewed expansion of railway construction has been timed to follow the dismantlement⁷ of the former Railway Ministry⁸, rather than to boost government investment.

 

　　There is already over 20-percent growth in fixed⁹ asset investment here in China.

 

　　Fan Jianping says this level of fixed-asset investment is aggressive enough.

 

　　He also contends the country's overall economic growth model is entering a new era, where growth within an 7 to 8 percent range will reign⁴ for a long time.

 

　　"We do not view the current economic slowdown as a crisis. We think the new growth range is decided¹⁰ by China's growth potential and will stay as the status quo of China's economic growth for the coming few years."

 

　　Fan also says China's growth potential is not on a decline because of outside factors, such as the financial crisis of 2008.

 

　　Instead, he contends the slowdown is the natural result of 3-decades of extremely-fast development.

 

　　He says the slowdown in the Chinese economy has actually created some benefits.

 

　　"The slowdown we saw in the first half of this year has many aspects worth commending. We have seen a much lower risk of inflation, and no risk of deflation. And at the same time, job creation has kept up with the demand. Therefore, we think the economy improved quality-wise."

 

　　While admitting those who reaped the rewards from 30-years of rapid development may not like the new approach of managing the economy, Fan Jianping says China's new leadership is prepared to get used to it.

 

　　For CRI, I'm Ding Lulu.

1 stimulus   

n.刺激，刺激物，促进因素，引起兴奋的事物

参考例句：

• Regard each failure as a stimulus to further efforts.把每次失利看成对进一步努力的激励。
• Light is a stimulus to growth in plants.光是促进植物生长的一个因素。

2 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

3 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

4 reign   

n.统治时期，统治，支配，盛行；v.占优势

参考例句：

• The reign of Queen Elizabeth lapped over into the seventeenth century.伊丽莎白王朝延至17世纪。
• The reign of Zhu Yuanzhang lasted about 31 years.朱元璋统治了大约三十一年。

5 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

6 blueprint   

n.蓝图，设计图，计划；vt.制成蓝图，计划

参考例句：

• All the machine parts on a blueprint must answer each other.设计图上所有的机器部件都应互相配合。
• The documents contain a blueprint for a nuclear device.文件内附有一张核装置的设计蓝图。

7 dismantlement   

拆卸，拆除的行动或状态

参考例句：

• All construction, dismantlement and reinstatement works shall be completed before May2006. 所有建造、卸及修复工程均须在二零零六年五月前完成。
• The law stipulates modes for company merger, dismantlement, bankruptcy, dissolution and liquidation. 该法规定了公司合并、分立、破产、解散和清算的方式。

8 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

9 fixed   

adj.固定的，不变的，准备好的；(计算机)固定的

参考例句：

• Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？
• Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。

10 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。