State Council briefing on Chinese economy

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• published: 21 Jul 2015
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1. Medium shot spokesmen walking to podium, pull out to wide of news conference 2. Medium shot press 3. SOUNDBITE: (Mandarin) Zheng Jingping, Spokesman for National Bureau of Statistics of China: "The nation's economy registered steady and rapid growth. Preliminary estimates show that the gross domestic product (GDP) totalled 10627.5 (b)billion yuan (1313 billion US dollars), a year-on-year rise of 9.4 per cent, or a 0.1 percentage point decline from the growth of a year earlier." 4. Cutaway press 5. SOUNDBITE: (Mandarin) Zheng Jingping, Spokesman for National Bureau of Statistics of China: "There are still problems in economic performance including a weak agriculture infrastructure, which hinders further improvement in grain production and farmers' income, oversized and irrational investment in fixed assets, a noticeable foreign trade imbalance and a slower increase in profits in some industrial sectors." 6. Journalist asking question 7. SOUNDBITE: (Mandarin) Zheng Jingping, Spokesman for National Bureau of Statistics of China: "Any reform needs to be observed for some time to see what the result is. We can and do reform the RMB (Chinese currency) exchange rate frequently. So the latest reform will be stable for a period of time." 8. Wide of Japanese journalist asking question 9. SOUNDBITE: (Mandarin) Zheng Jingping, Spokesman for National Bureau of Statistics of China: "If bilateral political relations are not in a good condition, or we can say if there is not a good political environment for China and Japan, it is not realistic to maintain good and warm economic relations between the two countries. " 10. End of news conference STORYLINE: China's economy grew at a rate of 9.4 percent in the first three quarters of 2005 as investment surged and the country's politically volatile trade surplus more than doubled, the government said on Thursday. Zheng Jingping, the Spokesman for National Bureau of Statistics of China said China's gross domestic product (GDP) was 10627.5 (b) billion yuan (1313 billion US dollars). However, the government report expressed concern about "oversized and irrational" investment in fixed assets, the relatively low level of farmers' incomes and the nation's bulging trade gap. In an attempt to slow growth, Beijing wants to do more to curb investment in unneeded factories and shopping malls, said Zheng. The government also has no plans to let China's currency, the yuan, rise sharply in the near future, he said. But, he said, Chinese farmers' incomes weren't growing fast enough. Incomes in the countryside, an area where the government worries about simmering unrest over enduring poverty, rose 11.5 percent, but still were less than one-third of those in China's booming cities, according to the figures released by the National Bureau of Statistics. Top Chinese scholars have have expressed concern that the widening rich-poor gap could lead to social instability. Exports have climbed despite China's decision on July 21 to make its currency, the yuan, about two percent stronger against the US dollar On Sino-Japanese economic relations, Zheng said if bilateral political ties were tense, it was unrealistic to expect economic relations between the two Asian powers to be good. Japan is China's third largest trade partner, following the United States and the European Union. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/9d66d205131f0ad025be3b6258719c49 Find out more about AP Archive: http://www.aparchive.com/HowWeWork