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| China-Japan-Koreas |
| Chinese govt moves to cool economic growth |
| 2006-04-27 |
| China's economic watchdog is moving to slow economic growth after recording a rise in fixed assets investment of almost 30 percent in the first quarter. The National Development and Reform Commission (NDRC) has urgedlocal governments to tighten controls on land use and lending to prevent investment rising too rapidly. National Bureau of Statistics figures show investment in roads, factory equipment and other fixed assets grew 27.7 percent, an increase of 4.9 percentage points year on year. The government has launching the "socialist new countryside" campaign to boost rural development, which was left behind in the reform and opening-up drive of the past two decades. However, more than half of China's provinces recorded alarming growth rates or more than 35 percent in investment, and 16 manufacturing industries reported more than 40 percent. Full Story |
| Posted by:tipper |