Business / Economy

Highlights of NDRC press conference

(chinadaily.com.cn) Updated: 2014-03-05 16:38

Xu Shaoshi, minister in charge of the National Development and Reform Commission, gave a press conference on the economic situation and macro-economic control at the press center of the two sessions.

The following are highlights in the press conference

Growth is stable; concerns are unnecessary

Some organizations and media companies have taken a negative view on China's economic data that came out in January and February.

However, I(Xu) predict that China's overall economic situation will continue to be stable and will see steady progress. China's GDP rose by 7.7 percent last year and CPI by 2.6 percent. It added 13.1 million new jobs in the same period. The national per capita disposable income rose by 8.1 percent. This was good and even better than expected.

Smoothing government reform progress

The most noticeable thing is the transformation of government functions and delegation of administrative powers to lower levels.

Since last year, 416 administrative approval items had been cancelled or delegated to lower levels, further bringing out vitality of the market.

The number of newly-registered firms has reached to 2.5 million, an increase of 27.6 percent compared to the previous year.

This year, further reforms will be carried out in the administrative system, market system, state-owned enterprises, taxation system, and financial system, etc.

Two 'firsts' stand out in Chinese economy

There are two "firsts" in the economic development of last year that should be mentioned. The first "first" is that the total value of imported and exported goods reached 25.8 trillion yuan. China, for the first time, became the world's largest goods trading country. Second "first" is that the tertiary industry, for the first time, made up 46.1 percent of the total GDP, surpassing the second industry. This shows that the restructuring of our country's economy has made great progress. A historic upheaval occurred in the structure of the three industries.

Compared with developed and major developing countries, a 7.7 percent growth rate is the fastest. Such kind of high speed growth has also made important contributions to the world economy. China's economic growth accounted for 30 percent of the global economic growth.

Hong Kong cannot be hurt by Shanghai Pilot Free Trade Zone

Shanghai Pilot Free Trade Zone, which was established in September, is an opportunity for Hong Kong. The zone will boost development, bring reforms and help the economy.

The mainland, as always, will continue to support Hong Kong's role as an international powerhouse in finance, trade, civil aviation and shipping sector. There will not be any change or dilution in the support that the central government has been providing for years to both Hong Kong and Macau.

Since signing the Closer Economic Partnership Arrangement with Hong Kong in 2003, the mainland has inked several agreements, including 10 supplementary arrangements.

CEPA has become the highest level of institutional arrangement for the mainland as far as opening up of goods and services is concerned.

To set up Guangdong-Hong Kong-Macao free trade zone

With Shanghai Free Trade Zone attracting lots of attention, the possibility of setting up Guangdong-Hong Kong-Macao free trade zone is high.

Shanghai pilot free trade zone has been running well since last September when it was established. It was set up with the aim of exploring possibilities to see whether the concept can be replicated and promoted in other cities.

Its management model combines the pre-entry national treatment and a negative list.

To adopt new gasoline and diesel standards

All vehicles in the country must use national standard V gasoline and diesel by 2017.

Sulfur in every liter of national standard V gasoline is only one fifteenth of that in the national standard gasoline . Sulfur in every liter of national standard V diesel is only one thirty-fifth of that in the national standard diesel .

Therefore, using new national standard gasoline and diesel will be good for the environment.

 

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Highlights of NDRC press conference

Highlights of NDRC press conference

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