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Article featured in Business Beijing, May 2006
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Verbatim

2006/05/20

 

"Chinese economic reform always follows the philosophy of gradualism. (But) probably it can be a little bit faster."

Zhou Xiaochuan, governor of the People's Bank of China, told a small group of reporters in Washington, D.C. on April 24, referring to an increase in the value of the renminbi currency. He said the currency can "probably" begin to appreciate a bit more quickly, but gradualism is still the guiding philosophy.

 

"We have to cope with the expansion plan of the Chinese civil aviation [industry] on one hand and improve the productivity and load factor on the other hand."

Ma Xulun, president of Air China, said on April 20 that the only airline among the mainland's big three to make a profit last year will spend 9 billion yuan (US$1.123 billion) on new airplanes this year.

 

"We cannot just sit for discussions behind a closed door while the sandy weather has raged outside for more than ten days,"

Chinese Premier Wen Jiabao announced on April 23, at a national conference on environmental protection, that China should be on high alert to fight against worsening environmental pollution and ecological deterioration in some regions, and he said environmental protection should be given a higher priority in the drive for national modernization.

 

"This unprecedented method will provide uniform standards for data collection and allow decision-makers in governments, academia and the general public to gain a better understanding of China's robust e-commerce industry,"

Vice-Minister Liao Xiaoqi, of the Ministry of Commerce, on April 17 at a press conference announcing the issuance of the 2004–5 China E-Commerce Report. A first for China and the world, the report details an official method that can be used to guide the statistical work of the e-commerce industry.

 

"The slower increase in wages for migrant workers, to a large extent, hinders rural families' income growth."

Ma Xiaohe, deputy director of the Academy of Macroeconomic Research with the National Development and Reform Commission, on the continuing widening rural–urban income gap on April 17.

 

"This is very significant for the software industry, a very important step by the Chinese Government."

Microsoft Vice-President Pamela S. Passman, said in an interview with Xinhua, that China has made very important progress in intellectual property protection and Microsoft Corporation hopes for long-standing cooperation with China on April 16.

 

"The direction of monetary policy will not change."

Wu Xiaoling, a deputy governor of the central bank, on April 15 said that China will stick to a stable monetary policy even though loan growth is accelerating and the banking system is likely to remain awash with liquidity in the short term.

 

"It is an inevitable trend for the two sides to deepen their economic cooperation and achieve common development."

Jia Qinglin, a standing committee member of the Political Bureau of the CPC Central Committee, on April 14 expressed the Chinese mainland’s high hopes for better cross-Straits relations at the opening session of the two-day Cross-Straits Economic and Trade Forum on April 14.

 

"I don't know where (Chinese) revenue growth will be, but it will obviously be large."

Eric Schmidt, Google's (Gu Ge's) chief executive officer, expects substantial revenue growth in China, a market the Internet giant sees as its most promising on April 12.

"International experience shows that improvement in banks' internal mechanisms is vital for improving their vitality, but it's still an arduous and long task."

Liu Mingkang, head of the China Banking Regulatory Commission, said that China will implement the new Basel Accord, or Basel II, for banks with greater global exposure beginning in 2010 on April 10.

 

 



 
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