There is no doubt that if the two countries do not get along it will affect the economic and trade relationship between them,
Simply resorting to currency appreciation cannot solve the problem. This has been illustrated by Japan's case.
China's overall crude oil consumption is about 8% or 9% of world consumption and per capita consumption is a little less. So we are affected (by high prices) but the degree that we are affected is limited.
China's high rate of bank savings, investment, robust market demand and abundant labor forces guarantee the rapid growth of the Chinese economy.
China imports about 40% of its oil so of course we are affected, especially the industries that are high consumers of oil or that process oil products.
China has measures to limit the effects of rising crude oil prices.
Frankly, I don't think this coincidence will happen again.
It is fundamentally normal but it is at the upper end of the potential growth range and we need to take note of it.
National economic and social development is upbeat, marked by fast yet stable economic growth.
We need to attach importance to the sustainability of economic growth. We also need a better use of resources and to protect the environment.
Trade problems cannot be solved simply by letting the exchange rate rise or fall.
We should see the slowdown in price increases as positive,
We should pay attention to control of bank credit offerings and strengthen guidance for commercial banks.
There are prominent problems that call for our attention, such as rapid growth of investment in fixed assets and of bank loans.
We need to control the availability of credit.
The trade surplus in China may last for a period as China's advantage of low production cost still exists.
The stable price drop combined with the gradual decline in housing investments, is what the government wants to result from its macro-control,
Prominent problems include too quick growth in fixed-asset investments and bank loans, which the country will adopt measures to tackle to ensure a steady and relatively fast economic expansion.
Prominent problems include a too prompt growth rate in fixed-asset investments and bank loans, which the country plans to adopt measures to tackle, as well as measures to ensure it keeps its steady economic growth.
The oil price increase surely will have impact on China's economy as 40 percent of oil consumed in the country is imported, ... especially on some sectors, like agricultural means of production, oil refinery and public transport. But the impact is limited.
So there must be trade surplus in the processing trade.
Bank loans grew a bit faster in the first quarter, which has gained the attention of the State Council. Rapid expansion may boost the economy in the short term, but it will eventually lead to inflation and economic disorders and we should consider it seriously.
as long as we continue to earnestly implement the government's macroeconomic control policies and perform solidly in the fourth quarter, then the long-term targets we set earlier this year will be realized.
This is a characteristic that the United States, Japan and European Union countries do not have.
It should arouse concern, and actually has aroused our attention.
Everyone knows that during the 1970s the Japanese yen traded at 380 yen to the dollar and then appreciated to 110 yen per dollar. But Japan has all along enjoyed a trade surplus with the United States and their surplus went from US$10 billion at the time to over US$80 billion.
The nation's economy has continued to develop towards the target of macro-regulation as a good momentum of steady and rapid growth is maintained.
The key of our policy lies in preventing the (real estate) prices from surging too fast, instead of bringing down the prices abruptly, which is not in line with the law of economy or interests of the government and ordinary people.
The increase in the first quarter is a bit fast but previous experience tells us the first quarter generally accounts for only a small portion of the whole-year's investment.
The economy should grow by about 9% or more, giving next year a good start.
The current oil price couldn't represents the relations between supply and demand, ... speculation has played a more important role in the increase of oil prices.
A modest slowdown, if conducive to the long-term, stable development, is very good.
