China leader for
Thursday, 26 February 2009
BEIJING, Feb 25 (AFP): President Hu Jintao has warned of a deteriorating economic situation in China and called for more "powerful" measures to reverse the tide, state media said.
"The world economic situation is austere and complicated, the global financial crisis had yet to level out and China's economic growth is under pressure of a slow-down," Hu said, according to a report by Xinhua news agency.
In a speech to the ruling Communist Party's 25-member Politburo, Hu called for "more powerful and efficient measures to increase domestic demand, and consumer demand in particular," the report said yesterday.
"The government should maintain the policy of giving top priority to increasing domestic demand while stabilising external demand," he was quoted saying.
The report gave no details on any specific policy proposals.
The party has signalled recently it intends to take measures during the National People's Congress session, beginning on March 5, to cushion the blow from the slowest economic growth in nearly 20 years.
China's growth slowed to 6.8 per cent in the final quarter of last year, sharply down from the double-digit expansion seen for most of the past decade.
"The world economic situation is austere and complicated, the global financial crisis had yet to level out and China's economic growth is under pressure of a slow-down," Hu said, according to a report by Xinhua news agency.
In a speech to the ruling Communist Party's 25-member Politburo, Hu called for "more powerful and efficient measures to increase domestic demand, and consumer demand in particular," the report said yesterday.
"The government should maintain the policy of giving top priority to increasing domestic demand while stabilising external demand," he was quoted saying.
The report gave no details on any specific policy proposals.
The party has signalled recently it intends to take measures during the National People's Congress session, beginning on March 5, to cushion the blow from the slowest economic growth in nearly 20 years.
China's growth slowed to 6.8 per cent in the final quarter of last year, sharply down from the double-digit expansion seen for most of the past decade.