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China greeted the new year with apromising economy, improving people's livelihood and a stablesociety, a hard earned achievement in the face of the worst globaleconomic depression since the World War II. On the first day of 2010, Chinese President Hu Jintao paid a visitto a small village in northern Hebei Province. Hu Jintao (C, front), Chinese President, general secretary of theCentral Committee of the Communist Party of China (CPC) andchairman of the Central Military Commission, shakes hands with afamily member of villager Zhang Futai during an inspection tour ata village of Liqizhuang Town, Sanhe City, north China's HebeiProvince, on Jan. 1, 2010. Hu Jintao made the inspection tour inSanhe City on Friday. (Xinhua Photo) Photo Gallery He went there not only to convey New Year greetings to commonpeople, but also to investigate how to sustain stable andrelatively fast economic growth after China survived the impact ofthe crisis that struck even the world's most powerful economies. Under a leadership with determination and foresight and with jointefforts of the nation, the country's economy has withstood thetoughest test in this century. Be PREPARED FOR DANGER, ACT QUICKLY China has been prepared for possible dangers even at the mostpeaceful moment. On June 13, 2008, Hu told a meeting of senior leaders of thecentral authorities and senior officials of central and localgovernments that the country should fully understand the problemsand challenges it would face and prepare for possible difficulties. At that time, the world economy was shadowed by the deepeningsubprime lending crisis in the United States. Related Hu Jintao underlines improvement on fiscal, taxation systems President Hu inspects Hebei, underlines efforts to supportagriculture Chinese President Hu Jintao delivers New Year address China to continue fiscal and monetary policies next year China to keep macroeconomic policy stance in 2010 with flexibility Wen: stimulus package effective, China should be proud China planner offers details on 4 trln yuan stimulus package China's GDP growth accelerates to 8.9% in Q3 In September 2008, following the filing for bankruptcy protectionby Lehman Brothers, the fourth largest investment bank in the U.S.with a history of 158 years, the financial crisis began to spreadquickly across the world. Closely related with the developed economies through its highreliance on foreign trade, the Chinese economy also felt the impactfrom the crisis. Export growth slowed down, some factories were closed and workerswent home as fewer orders came. The central government responded with preferential duty policies,easing restrictions over bank loans, lowering transaction tax ofreal estates and increasing credits for small and medium-sizedenterprises. The central authorities established a special team to cope with thecrisis. On Nov. 6, 2008, China announced ten measures to expand domesticconsumption and boost economic growth and decided to adopt apro-active fiscal policy and moderately loose monetary policy,revealing a hike in government investment aimed at bringing about 4trillion yuan (579.71 billion U.S. dollars) of investment in twoyears. A month later, at the Central Economic Work Conference that set thetone for economic policies in 2009, China drew guidelines foraddressing the global financial crisis -- it would expand domesticconsumption, accelerate transformation of its development patternand structural adjustment, deepen reforms in key sectors and links,improve the level of opening up and improve people's livelihood Detailed policies followed one after another. The centralgovernment issued plans to invigorate development of 10 industriesincluding steel, car making, textile and machinery, as well asseveral regional development plans. It also put forward preferential policies to encourage sales ofhome appliance, cars and motorbikes in rural areas. More government investment came to infrastructure, scientificresearch and public service. Although many decisions were made in Beijing, they were based oncollective wisdom. Since the global financial crisis broke out, nine members of theStanding Committee of the Political Bureau of the Communist Partyof China (CPC) Central Committee have visited various regions,especially the worst-hit regions, talking with people from allwalks of life, including businessmen, workers, city residents andfarmers. In November 2008, Hu hold a meeting with representatives ofnon-Communist parties, the business circle and persons withoutparty affiliation to solicit advice on how to cope with the crisis. At the annual sessions of the National People's Congress (NPC) andthe National Committee of the Chinese People's PoliticalConsultative Conference (CPPCC) in March 2009, nine top leadersattended dozens of discussions with legislators and politicaladvisors. As the policies and measures were implemented step by step, thecountry's economic growth rebounded to 8.9 percent in the thirdquarter of 2009, realizing a V-shape recovery. Special Report: Global Financial Crisis [1] [2] [3] [4]. I am an expert from automaticbarriergate.com, while we provides the quality product, such as China Swing Arm Barrier , Flap Barrier, Intelligent Car Parking System,and more.
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