China to continue with macro controls in 2008
China will maintain macro controls in 2008, to ensure a continual growth of the economy, as well as to prevent the economy from burning out, according to a meeting conducted by the Political Bureau of the Communist Party of China (CPC) Central Committee on Tuesday..
In the meeting that was hosted by President Hu Jintao, he pointed out that there are problems even while the economy is growing. In the first three quarters of the year, the gross domestic product (GDP) reached 11.5%. In October, the consumer price index (CPI) reached a record high, increasing by 6.5%, 2% higher than the expected growth.
China will take measures to stabilize the prices to prevent the fast economy growth from burning out. In addition, the Chinese government will also be placing more emphasis on its drive to save energy and reduce the emission of pollutants, according to President Hu at the meeting.
According to Chen Gong, chairman and chief economist of Beijing-based Anbound Consulting to China Daily, China will take measures in 2008 to control the fast growth of the investment on fixed assets.
Tags: investment