国产av不卡一区二区_欧美xxxx做受欧美_成年人看的毛片_亚洲第一天堂在线观看_亚洲午夜精品久久久中文影院av_8x8ⅹ国产精品一区二区二区_久久精品国产sm调教网站演员_亚洲av综合色区无码一二三区_成人免费激情视频_国产九九九视频

Opinion

Focus still on economic growth

By Mark Williams, Qinwei Wang, and Julian Evans-Pritchard (China Daily)
Updated: 2014-03-08 08:40

Premier Li Keqiang's news conference on last day of NPC annual session will help identify priority areas of reforms

The Government Work Report presented by Premier Li Keqiang on the opening day of the National People's Congress annual session on March 5 provided useful clues to the government's priorities and objectives for the rest of the year.

The big news on day one of the NPC session was that the government set the GDP growth target at "about 7.5 percent" for 2014, unchanged from last year. At face value, this is disappointing. There has been a growing recognition, inside as well as outside the government, that addressing China's structural problems should take priority over headline rates of growth, as long as this can be achieved without major job losses.

In particular, credit and investment spending need to slow down. But with consumer spending growth likely to be stable and exports on course only for a moderate acceleration, any appreciable slowdown in credit and investment would be almost certain to pull growth below 7.5 percent.

That said, there are also signs that the government is giving itself more room to maneuver on growth. In its report on March 5, the National Development and Reform Commission, China's highest planning body, said the GDP growth target is "flexible". It did not say that last year. It also stated that local governments "must not seek faster growth or compete with each other to have the highest growth rate". Also, People's Bank of China Governor Zhou Xiaochuan recently said he thought that growth of between 7 percent and 8 percent would be appropriate. It appears that policymakers are no longer inclined to defend the target at all costs.

Regarding reforms, while the goals laid out at the Third Plenum of the 18th Central Committee of the Communist Party of China in November have been largely reiterated, there were a few noteworthy takeaways. First was a strong signal on financial reform. The premier's work report suggests a deposit insurance scheme will be put in place this year to help speed up the process of interest rate liberalization. The report also indicated the first private bank may be launched this year.

On tax reform, the government has pledged to extend value-added tax to cover the railways, and post and telecommunications industries in April, as part of a long-running move to replace the inefficient business tax and reduce the tax burden of the service sector. Although the Ministry of Finance said it will accelerate legislation of a property tax, large-scale fiscal reform, which many see as necessary to put local government finances on a more sustainable footing, does not appear to be on the agenda, at least in the near term.

The premier has called for further reduction in the role of the State and signaled a continued determination to reduce red tape with a pledge to further cut 200 investment approval items.

Finally, we warn against making too much of the budget statement on March 5. This includes a target for the budget deficit of 2.1 percent of GDP, in line with last year's deficit. But some key decisions, those that determine the activities and financing of local government financing vehicles and therefore the overall impact that government spending has on the economy, take place off budget. As a result, the budget figures give only a partial view of the government's overall fiscal stance.

The plans in the budget to strengthen oversight of local government borrowing and reduce the reliance on local government financing vehicles are probably of greater importance, both for this year's economic outlook and in addressing structural concerns. On this broader basis, the overall fiscal stance is likely to tighten this year.

Looking ahead, the key events to watch out for during the remainder of the NPC session are likely to be the news conferences. In particular, Li's news conference on the final day of the NPC annual session (possibly on March 13) will be an opportunity to hear from him in a relatively unscripted format. It should give us some insights into where his, and the leadership's, priorities lie.

For example, the news conference has the potential to cast valuable light on a number of key issues, including how the government will handle the trade-off between short-term growth and deleveraging, areas that take priorities for reform and topics such as currency and property policies that have so far received less attention at the NPC session.

The authors are economists with Capital Economics, a London-based macroeconomic consultancy.

(China Daily 03/08/2014 page5)

...
亚洲午夜精品久久久久久性色| 精品成人免费一区二区在线播放| 亚洲天天影视| 九色网友自拍视频手机在线| 噼里啪啦在线中文观看| 无夜福利视频观看| 可播放的18gay1069| 蜜桃av麻豆av天美av免费| 黄色大片免费观看| 交videos老少配com| 福利视频导航大全| 操操操com| a级毛片免费高清视频| 丰满少妇又爽又紧又丰满电影| 三级毛片在线| 激情小说图片视频| 福利网站av| 九色成人在线| 免费观看一二区视频网站| 成片免费观看视频| 色琪琪免费视频网站| 影音先锋在线影院| 在线视频中文字幕| 欧美色视频免费| 久久久久国产精品嫩草影院| aⅴ在线视频男人的天堂| 日本美女在线中文版| 尤物在线视频| a视频在线观看免费| 美洲精品一卡2卡三卡4卡四卡| 久久免费电影| 免费日韩电影| 日韩免费在线电影| 伊人精品久久| 精品中文字幕一区二区三区av| 欧美精品一区二区三区中文字幕| 日韩视频在线观看| 欧美一区二区| 国产欧美日韩一级| 欧美aaa在线| 韩国v欧美v日本v亚洲v| 国产91对白在线观看九色| 不卡一区在线观看| 国产日产欧美一区二区三区| 亚洲欧洲精品一区二区三区| 亚洲成人在线网站| 在线一区二区三区做爰视频网站| 91精品综合久久久久久| 亚洲第一免费网站| 日日狠狠久久偷偷四色综合免费| 欧美激情中文网| www.久色| 免费在线观看的黄色网址| 色偷偷福利视频| 一个人看的www一区| 成人在线免费观看| 91资源在线观看| 性欧美video另类hd尤物| 成人av激情人伦小说| 欧美日中文字幕| 亚洲性人人天天夜夜摸| 蜜臀av性久久久久蜜臀aⅴ流畅 | 一本一本久久a久久精品综合麻豆| 精品视频在线免费看| 亚洲国产精品久久久久秋霞蜜臀 | 999精品在线| 激情视频一区| 激情文学综合插| 久久你懂得1024| 亚洲一线二线三线久久久| 欧美午夜宅男影院| 精品视频一区在线视频| 色综合天天狠天天透天天伊人| 欧美性狂猛xxxxxbbbbb| www.夜色| 青春有你2免费观看完整版在线播放高清 | 欧美多人爱爱视频网站| 欧美色图俺去了| 87福利电影网| 久热av在线| 欧美aaaaa性bbbbb小妇| 中文字幕视频精品一区二区三区| 99久久亚洲精品蜜臀| 日韩电影在线免费观看| www激情久久| 午夜精品福利在线| 精品国产一区二区精华| 欧美成人中文字幕在线| 国产人成精品| 樱桃视频免费看| 四虎影院观看视频在线观看| 97久久中文字幕| 久久在线播放| 美国欧美日韩国产在线播放| 国产亚洲综合在线| 色乱码一区二区三区88| 日韩成人激情视频| 91超碰caoporn97人人| 美美女免费毛片| 精品成人一区二区三区免费视频| 亚洲第一av| 女厕嘘嘘一区二区在线播放 | 亚洲综合电影一区二区三区| 成人免费视频免费观看| 亚洲国产成人91porn| 日韩精品专区在线影院重磅| 久久999免费视频| 瑟瑟网站在线观看| 九色在线观看| 成人激情视屏| 欧美oldwomenvideos| 久久精品国产一区二区| 综合在线观看色| 日韩美女天天操| 97国产真实伦对白精彩视频8| 九九夜夜操妹子| 成人资源www网在线最新版| 成人一区视频| 这里只有精品在线| 成人午夜碰碰视频| 精品露脸国产偷人在视频| 亚洲美女性视频| 一色屋成人免费精品网站 | 影视一区二区| 国产精品88av| 精品久久久久久中文字幕一区奶水| 日韩电影免费观看中文字幕| a中文字幕www| 成视频在线免费观看| 校园春色亚洲| 色一区二区三区四区| 国产成人免费视频一区| 韩曰欧美视频免费观看| 中文字幕自拍vr一区二区三区| 国产又爽又黄又舒服又刺激视频| 涩涩视频在线观看免费| 丁香婷婷久久| 欧美性久久久| 国产欧美日韩在线看| 日韩一区二区电影| 欧美亚洲国产成人精品| 日本韩国在线视频| 欧美日韩不卡| 午夜欧美精品久久久久久久| 91在线小视频| 欧美美女视频在线观看| 午夜免费日韩视频| 香港日本韩国三级| 日韩中文视频| 一区二区三区成人精品| 18涩涩午夜精品.www| 日韩av一区二区在线观看| 久久久9999久久精品小说| 黄上黄在线观看| 9l视频自拍蝌蚪9l视频成人| 日本在线观看不卡视频| 亚洲午夜精品在线| 视频直播国产精品| eeuss影影院www在线播放| 国产后进白嫩翘臀在线观看视频| 成人91在线| 99精品视频中文字幕| 欧美喷潮久久久xxxxx| 亚洲视频在线网| 深夜福利在线看| 中文字幕一区二区三区四区久久| 日本怡春院一区二区| 婷婷丁香激情综合| 欧美精品在线看| 久久综合色播| 丰满少妇一区| 模特精品在线| 亚洲h动漫在线| 欧美超级免费视 在线| 国产天堂av| 亚洲精品一区在线观看| 久久久久久久久久久久久久久久久久av| 国产特级毛片| а天堂中文最新一区二区三区| 免费亚洲一区| 天天综合网天天综合色| 欧美国产日韩免费| 一区二区三区区四区播放视频在线观看 | 一个色在线综合| 日韩在线视频免费观看| 天天做日日爱夜夜爽| 久久精品女人天堂av免费观看| 亚洲视频综合| 亚洲一级在线观看| 精品中文字幕视频| 一二三中文字幕在线| 国产一区福利| 波多野结衣视频一区| 日韩三级视频中文字幕| 国产浪潮av性色av小说| 国产精品国精产品一二| 一区在线视频观看| 亚洲国产一二三| 国内精品久久久久| seseavlu视频在线| 色欧美自拍视频| 国产精品久久久久久户外露出 | 久久久久久久久久久久久91| av漫画网站在线观看| 亚洲高清电影| 欧美视频专区一二在线观看| 欧美亚洲成人xxx| 免费看a在线观看| 91精品国产福利在线观看麻豆| 手机在线免费av| 香蕉久久久久久| 国产一区二区精品久久91| 欧美一区二区视频网站| 一本大道五月香蕉| 日韩电影免费观| 青青草国产成人av片免费| 欧美情侣在线播放| 日本夜夜草视频网站| 欧洲av一区二区| 免费精品视频最新在线| 7777精品伊人久久久大香线蕉的| 外卖gayxxxxgay1| 伊人久久高清| 国产一区二区影院| 亚洲国产精品久久精品怡红院| 天天av天天爽| 日韩欧美中文在线观看| 91一区二区三区在线观看| 亚洲天堂日韩电影| 国产香蕉尹人视频在线| 深夜福利久久| 亚洲日本电影在线| 午夜精品蜜臀一区二区三区免费| 日p在线观看| 欧美日韩亚洲一区三区| 色先锋aa成人| 国内精品久久久久久影院老狼| 在线观看v片| 久久99精品久久久久久久久久久久| 日韩视频一区在线观看| jizz视频18| 成人爽a毛片| 欧美国产视频在线| 久久久久久久成人| 中文字幕资源网在线观看| 亚洲深爱激情| 日韩一区二区不卡| 男女羞羞网站| 久久99国内| 亚洲综合在线免费观看| 亚洲狠狠婷婷综合久久蜜桃| 色资源二区在线视频| 国产综合色视频| 亚洲天堂日韩电影| 久久99久久| 尹人成人综合网| 欧美日韩免费视频| 蜜桃av麻豆av天美av免费| 欧美重口另类| 一区二区三区中文字幕| 欧美aaaaaa午夜精品| 精品日韩成人av| 天天噜天天色| 国产高清一区| 色老汉av一区二区三区| 免费看美剧网站| 中文字幕一区二区三区日韩精品| 国产精品日产欧美久久久久| 7m精品福利视频导航| 深夜成人在线| 成人免费高清在线| 欧美成人午夜影院| 日韩另类在线| 精品一区二区免费看| 亚洲美女精品成人在线视频| 国产中文字幕在线看| 亚洲精选国产| 精品区一区二区| 中文在线一二区| 中国精品18videos性欧美| 欧美天堂亚洲电影院在线播放| xvideos入口| 国产精品羞羞答答在线观看| 天天综合网天天综合色| 青春草在线观看视频| 欧美爱爱网站| 亚洲国产wwwccc36天堂| 青柠在线免费观看| 亚州国产精品| 欧美性感美女h网站在线观看免费| 中国女人一级毛片| 美女一区二区在线观看| 亚洲成人中文在线| 福利视频网址| 欧美精品一区二区久久| 欧洲视频一区二区| 国产一级黄色电影| 亚洲精品成人| 日韩欧美在线不卡| 日韩有码电影| 午夜综合激情| 黄色在线一区| 色婷婷av一区二区三区gif| 成年人网站在线观看免费| 国产精选一区| 欧美视频在线一区二区三区| sm一区二区三区| 午夜精品婷婷| 亚洲国产成人91精品| 国产在线91| 久久99精品国产麻豆不卡| 久久精品人人爽| 高清在线视频不卡| 久久嫩草精品久久久精品一| 亚洲精品午夜级久久久久| 日韩成人视屏| 午夜电影一区二区三区| 天天骑天天干| 亚洲精品久久| 亚洲黄色免费三级| 麻豆视频网站在线观看| 国产精品2024| 55夜色66夜色国产精品视频| 伊人久久一区| 亚洲午夜免费视频| 欧美xxxx18| 亚洲毛片在线| 一个人www欧美| 2019中文字幕在线电影免费| 久久先锋影音av鲁色资源网| 亚洲精品影院在线| 理论片一区二区在线| 色欧美片视频在线观看| 色视频www在线播放国产| 久久亚洲图片| 成年无码av片在线| 日韩经典一区| 一区二区三区高清不卡| h视频在线观看免费完整版| 一区二区蜜桃| 亚洲日本中文字幕| 黄色视屏在线免费观看| 国产精品女同一区二区三区| 你懂的视频网址| 欧美va天堂在线| 亚洲人成人99网站| 午夜av不卡| 亚洲精品日日夜夜| 天天干 夜夜操| 99亚洲一区二区| 精品国产美女在线| 欧美成人家庭影院| 天天色 色综合| 情趣视频网站在线免费观看| 奇米精品一区二区三区在线观看一 | 中文字幕在线一区| 美女高潮网站| 影音先锋亚洲一区| 日韩中文字幕在线视频播放| 国产福利91精品一区二区| 亚洲一区二区高清| 色琪琪丁香婷婷综合久久| 蜜桃精品在线观看| 亚洲xx在线| 亚州精品视频| 精品国产伦一区二区三区观看方式| 超鹏97在线| 国产精品久久夜| 99re在线视频播放| 国产一区二区高清| 久久久久久久国产精品| 老司机在线精品视频| 日韩欧美中文字幕制服| 欧美性爽视频| 亚洲欧美在线aaa| 男人天堂2020| 精品一区二区三区久久| 秘密影院久久综合亚洲综合| 波多野结衣在线播放一区| 亚洲国产高清福利视频| 久热在线观看视频| 亚洲一区免费视频| 五月激情在线| www.亚洲国产| 九九九热视频| 日韩在线一二三区| 亚洲午夜网未来影院| 精品国产乱码久久久久久蜜坠欲下 | 大尺度一区二区| 最新91视频| 雨宫琴音一区二区在线| 蜜月aⅴ免费一区二区三区 | 337p日本| 久久99精品久久久久久动态图| 欧美人善zozσ性伦交| 欧美在线高清| 欧美激情欧美激情| 亚州国产精品| 在线观看亚洲视频| 亚洲午夜免费|