China's inland provinces need infrastructure, and Beijing has announced a stimulus package of four trillion yuan (S$889 billion) by 2010. China is extending its railway network, rebuilding earthquake-damaged areas in Sichuan, increasing export tax rebates, lending more to small and medium-sized enterprises and spending more on social welfare systems.
To revive the housing market, it is reducing taxes on housing transactions and unwinding property- tightening measures introduced earlier to counter speculation. For first-time home buyers, the minimum down payment has been reduced from 30 per cent to 20 per cent, and banks are allowed to offer interest rates as low as 70 per cent of the standard lending rates for such mortgages. The demand for residential housing remains strong, and China's construction companies are capable of meeting it.
Personal consumption in China should be encouraged; it is only 35 per cent of gross domestic product (GDP), compared with America's 70 per cent. Beijing is introducing rural land reforms, increasing government funding for low-price housing and basic medical services, and reducing interest rates in order to boost domestic consumption. China is determined to grow by at least 8 per cent, to create enough jobs to sidestep large-scale unemployment and social unrest.
Again theres a difference between News and PR
ReplyDeleteAsk any Chinese Citizen they will give you a 3rd perspective
Its called Truth
Yes, there is oppertunity. What are the threat?
ReplyDelete- 100,000 worker are retrenched, what are they doing now if their farm already sold out?
- where to find job for 6 million fresh graduates each year?
- More than one case of social unrest every day in PRC
- Is the Tibet indpendant issue solved?
- Is the terrorist issue in Xing Zhang Province been resolved?
- Both Tibet & Xing Zhang Province want independant. They don't share the materialism with China Communist Party.
- Underground churches are very active in poor provinces. Their common mission is to topple China Communist Party.
- Very bad corruption country-wide even many have been executed.
- Soviet Union political structure in PRC is a regime.
- Human Development Index is very bad (see UN 2007/2008 Report)
Next year is 20th anniversally for 1989 Tien An Square incident.
Pro-democracy is very active all the while. I am very worry to see such bloody history to repeat!
If not, will there a general election like Rassia? If yes, how to handle 1.3 billion people? How to handle Tibet and Xing Zhang Province who want independant?
Will there be peace if democracy?
Either regime or democracy is not an answer for PRC. Where is PRC with 1.3 billion heading to?
There was no history guardian for billion population. There was no phlosophy thought for billion population. The communist leader has the answer for her people. The answer is "Scientific"科学观.
Do u agree?
Will history
Can u move your money out of PRC freely? If not, why Singapore learn from China?
ReplyDeleteDear Mr. Tan,
ReplyDeleteOil is now around $45. How is it that electricity prices only fell back to Sept level. I am sure that oil was not $45 at that time but much higher. So how is it being computed?
Chairman Mao 毛 hate capitalism. His Deputy Lin林 (pro-capitalism) try to kill Chairman Mao without success. After Chairman Mao's death, pro-capitalism PM Deng邓小平 open the door of PRC. PM Zhu朱 use the Harvard Econ textbook. PM Wen温 copy the Harvard textbook. A Singapore senior said: "PRC is capitalism." Why must Singapore learn capitalism from PRC?
ReplyDeleteAfter Wayang & my critics, Mr Tan change the orginal discussion topic "Singapore to Learn from China". Wayang and my opinion were relevant only to the deleted topic !
ReplyDeleteHappy 2009
after spending ten of millions, fatory in china had no order for 3 months. My friend said, was this his wrong judgement? or circumstances?
ReplyDeleteThe worry as Lunar Newyear coming. Many export items stucked in store, ports and on ship, which LC non FOB type cannot cash out as Banks in USA are closing down.
The consequences of un able to pay workers and unknown events has yet to come.