WRAPUP 3 solar inverter -China sees signs of economy recovering
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WRAPUP 3-China sees signs of economy recoveringPublished: 06 Mar 2009 01:52:36 PST

* China c.banker, top planner see signs of economicrecovery

* Beijing to decide on new stimulus in light of data flow

* Still over 20 million jobless migrants, but no fresh wave

BEIJING, March 6 - China's economic leadersstruck a note of quiet confidence on Friday that the economy isalready reviving in resp**e to swift action to counter theshock of the global financial crisis.

Premier Wen Jiabao disappointed financial markets onThursday by failing to announce an increase in a 4 trillionyuan ($585 billion) investment plan rushed out on Nov. 9 ascrumbling exports drained life from the world's third-largesteconomy.

But comments by a trio of top officials suggested that,while Beijing stands ready to prime the pump further, extrameasures might prove unnecessary because substantial fiscal andmonetary stimulus is already coursing through the economy.

"The economic figures are stabilising and recovering, whichdem**trates that the policies have begun to show an impact,"central bank governor Zhou Xiaochuan said.

Speaking at a news conference during the National People'sCongress, the largely ceremonial parliament, Zhou said Chinahad learned the lesson from other countries that a sluggishresp**e to the crisis delays the restoration of confidence.

"We must err on the side of being quick and decisive."

Zhou was speaking a day after Wen said China would ramp updeficit spending this year to hit its target of 8 percentgrowth, widely thought to be the minimum needed to keep a lidon unemployment and head off the threat of social unrest.

JOB MARKET STABILISING?

More than 20 million migrants who lost their jobs due tothe global crisis are still without work, according to ChenXiwen, director of the Office of the Central Rural Work LeadingGroup.

But Chen said there had not been a fresh wave of migrantsreturning jobless to the countryside in the month since the endof the Lunar New Year, or Spring Festival, holiday.

"At present, according to the situation on the ground, withfactories reopening after the Spring Festival, employment isrecovering and there is no new phenomenon of migrant workersreturning home," Chen told a news conference.

The cautiously optimistic assessment follows figuressuggesting that the economy may be on the cusp of a recovery.

New domestic-currency lending has surged since November andhit a record 1.6 trillion yuan in January, while surveys showmanufacturing is picking up from very depressed levels.

On the other hand, a tentative recovery in steel prices haspetered out, and recessi** in China's main export marketsappear to be worsening.

Zhang Ping, head of the National Development and ReformCommission, the main planning agency, said Beijing would keeptracking the flow of economic data before deciding whetherextra stimulus was necessary.

"Of course, we can't complacently assume that we canentirely avoid the impact of the crisis or that our measuresare already enough to counter it," he said.

"But I believe that, with the measures that we've taken orwill take, we can have full confidence that we can escape thecurrent hardships and fully respond to this crisis, because网络传真 实验室工程 lithium batteries surge arrester lithium battery FX 比較 即日 融資 クレジットカード現金化