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In terms of financial development, the State Council vowed to maintain a healthy development and make use of monetary policies more flexibly to adjust the money supply. It also promised to optimize credit investment and ensure that it would be used effectively, especially for supporting financing for small and medium-sized enterprises (SMEs). The State Council encouraged the further research of financing alternatives for SMEs, speeding up the launch of the Growth Enterprise Market for start-up companies, enhancing financial supervision and guarding against financial risks.
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CONSUMPTION RESURGENCE: China's retail sales have grown a robust 15 percent year on year in the first quarter, indicating a buoyant consumer market (CHEN YEHUA) |
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PRICES DOWN: The CPI fell by 0.6 percent in the first quarter, indicating that consumers are paying less for food and clothing (LI ZIHENG) |
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RURAL PROSPERITY: China is offering high subsidies to farmers for purchases of agricultural machinery in a bid to bolster the development of the vast countryside (LI TIECHENG) |
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INFRASTRUCTURE BOOM: Economists say the government infrastructure spending spree is boosting the sagging economy (SUN CAN) |
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