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Reuters Dalian July 3 - 2009 Summer Davos Forum arrived as scheduled, but the world economic situation has changed. Over the past year, however, the rise of trade protectionism, the provocation of the authority of the multilateral trading system, the turbulence of the global financial market, the rapid shift of the global economy from a difficult recovery to the pressure of a marked slowdown, and the multinational central banks began to adopt quantitative easing to meet the challenges of the downturn of the domestic economy.
On Tuesday, Chinese Premier Li Keqiang called on all countries to carry forward the spirit of partnership and equal consultation at two meetings of the Davos Conference Forum, and once again clearly convey the growing signal of China's opening up to the outside world. Despite the new downward pressure on China's economy, strong stimulus will no longer be the choice of decision-makers, and timely adjustments will be fine-tuned. Monetary policy and fiscal and fiscal policies to fully implement tax cuts and fee reductions will continue to escort the domestic economy in a reasonable range.
"Now the world economy is slowing down, which has brought new pressure on China's economic stability and progress. China's economy itself also has internal problems that need to be solved. All of these require us to take positive measures, rather than, as the folk saying goes,'Where you stand on the skin of watermelon is where you slip'. ’ " He said in response to World Economic Forum Chairman Schwab's comments on how China can ensure six stability.
In fact, at the beginning of this year, China has formulated measures to deal with complex situations, such as tax cuts, which have been reducing statutory taxes and fees on a larger scale for several consecutive years. "Given the complexity of this year's economic situation, the fiscal tax cuts are unprecedented." Li Keqiang said that nearly two trillion yuan of tax and fee will be cut this year, which will lighten the heavy burden on enterprises, and said that in the second half of the year, we should resolutely fulfill the promise of tax reduction.
Although it is difficult to keep the economy running smoothly, monetary policy will not be stimulated by flooding. He pointed out that currently money issuance and supply are reasonable and abundant. The problem is how to make SMEs and private enterprises feel that the real financing interest rate has dropped significantly through effective measures. The problem is that tax reduction measures should be implemented in any case.
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