'Try to shorten period of decline in growth' - Experts

10 Dec '08

2 min read

Judging from the current economic situation, China has never experienced such great external difficulties ever since the reform began and the economy was opened up in the last 30 years. Cai Zhizhou, researcher from Research Center of National Account of Peking University had this say, “it is even more noteworthy to note that that this crisis has not bottomed out but its influence continues to increase.”

In fact, all levels of the society from the common man to SMEs to big companies and the stock and real estate markets across all regions are feeling threatened under the heat generated by the recessionary trends prevailing in the global markets.

Deputy director of the National Bureau of Statistics Xu Xianchun said, considering the profound implications of the global financial turmoil on the world economy as well as a variety of factors leading to a continued decline of economic growth, China should try its best to avoid a significant drop in economic growth and try to shorten the period of declining growth.

He added by saying that , at this critical moment, China has launched a war against the financial crisis and when entering the year of 2009, the difficulties would not have been overcome, so China should do more detailed and consolidated analysis and develop strategies accordingly.

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