China plans for slower, consumer-driven growth
Associated Press
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 8:30 pm, Monday, March 4, 2013
Promoting consumer spending would both support more self-sustaining growth and boost living standards for ordinary Chinese, who have been treated until now as a source of labor while an elite repeated most of the benefits of explosive growth. Wen promised to give market forces a bigger role in the state-dominated economy but gave no indication how Beijing will deal with giant state companies that control most of China's industries and are shielded from foreign and private sector competition. The premier repeated government pledges to give private companies a "level playing field" and "equal access to factors of production"— a reference to bank loans and other resources. Reported by SeattlePI.com 7 hours ago.
Associated Press
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 8:30 pm, Monday, March 4, 2013
Promoting consumer spending would both support more self-sustaining growth and boost living standards for ordinary Chinese, who have been treated until now as a source of labor while an elite repeated most of the benefits of explosive growth. Wen promised to give market forces a bigger role in the state-dominated economy but gave no indication how Beijing will deal with giant state companies that control most of China's industries and are shielded from foreign and private sector competition. The premier repeated government pledges to give private companies a "level playing field" and "equal access to factors of production"— a reference to bank loans and other resources. Reported by SeattlePI.com 7 hours ago.