Wednesday, December 17, 2008

China to create domestic demand for economic growth

Tuesday 16th December, 2008

Beijing, Dec 16 (Xinhua) China will focus on expanding domestic demand as an effective way to stimulate economic growth in the backdrop of global financial crisis, premier Wen Jiabao said Tuesday.

Wen made the remarks during his meeting with World Bank (WB) chief Robert Zoellick.

The premier said that the country's move to expand domestic demand is aimed at gradually stimulating the consumption market by creating more jobs, removing or reducing the income disparity between urban and rural areas, improving infrastructure and expanding the social security network.

Zoellick said the current global crisis calls for closer cooperation among the international community and added that the WB will continue to play a role in helping China overcome difficulties in financing and employment.

Zoellick said sustaining its own economy in the wake of the financial meltdown will be China's biggest contribution to maintaining financial stability and the economic growth of the world.

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