December 16, 2008

China to spur domestic demand

Chinese Premier Wen Jiabao, briefing visiting World Bank President Robert Zoellick, said the country will spur domestic demand to stimulate economic growth.

Wen noted China's challenges in dealing with its 1.3 billion population, include overcoming urban-rural disparities, low per-capita income and tackling widespread poverty, Xinhua reported.

He told Zoellick expanding domestic demand is a way to gradually help the people through economic growth, the report said.

The plans include improving the incomes of rural residents and social security for low-income groups, expanding employment, working on social causes such as education and medical services, and providing adequate drinking water, bio-gas, roads, electricity and telecommunications in rural areas.

Zoellick was quoted as saying there is need for closer cooperation among the international community to resolve the current global financial crisis. He said the World Bank will continue to play a role in helping China overcome its difficulties.