Home>News Center>China
       
 

China to curb surging investment
(Agencies)
Updated: 2005-03-31 14:04

China's top leaders have pledged more curbs on surging investment, warning that excess spending on steel factories and surging prices for iron ore threaten the economy.

The moves, announced by the government following a meeting of the State Council, China's cabinet, caused share prices on domestic bourses to slip early Thursday.

China has been imposing curbs on bank lending and restricting investment in some sectors it says have been expanding at an unsustainable pace, risking financial problems, straining energy and transport networks and pushing prices dangerously higher.

Investment in construction, factories and other "fixed assets," China's benchmark measure of capital spending, rose 24.5 percent in January-February compared with the same period a year earlier.

Although the pace of growth has been cut about in half from its peak a year ago, it was above the 21.3 percent on-year increase for December and far exceeded the government's target of 16 percent growth in such investments for all of 2005.

Officials have repeatedly said they fear a rebound.

The State Council said it would further tighten controls on steel investment and strictly control steel exports by eliminating tax rebates for exporters, the Xinhua News Agency reported.

The government also plans steps to deal with a surge in iron ore prices on the international market by strengthening coordination of imports and iron ore operations, it said.

Chinese steel makers are among many in the industry facing a 71.5 percent price increase for low-grade iron ore from Brazil-based Companhia Vale do Rio Doce SA, the world's largest ore producer.

The leaders agreed that China's economic situation is "good in general, but there exists quite a number of problems," the Xinhua report said.

Share prices slipped Thursday on the news of further curbs on investment.

In early trading the Shanghai Composite Index lost 9.68 points, or 0.5 percent, to 1,166.89. The Shenzhen Composite Index fell 1.77 points, or 0.6 percent, to 292.49.

"Although the report is in line with previous government comments, it's still psychologically negative for the market," said Shen Zhengming, an analyst at Orient Securities in Shanghai.



 
  Today's Top News     Top China News
 

KMT, CPC parties open historic cross-Straits dialogue

 

   
 

Chemical tanker crashes, killing 27

 

   
 

Beijing court hears wrangle on Viagra patent

 

   
 

71% of Chinese women sexually harassed?

 

   
 

Online voters oppose Japan's new role

 

   
 

Red dye a 'food for thought' for Chinese

 

   
  Online voters oppose Japan's new role
   
  Zhou Wenzhong appointed ambassador to US
   
  Animals 'adopted' to aid zoo's rebuilding
   
  Drug-smuggling family nabbed
   
  Beijing's 5-year plan focuses on harmony
   
  Suspects in killing of Taiwanese caught
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 69视频在线是免费观看| 亚洲精品无码mv在线观看| 中文字幕色婷婷在线视频| 狼群资源网在线视频免费观看| 在车里被撞了八次高c| 亚洲AV无码国产一区二区三区| 露脸国语对白视频| 女人十八进入一及黄特别片| 亚洲乱色伦图片区小说| 资源在线www天堂| 在线看的你懂的| 久久精品二三区| 男人j进女人p免费视频| 国产精品自在线| 久久99国产亚洲精品观看| 波多野结衣69| 国产传媒在线观看| a在线观看网站| 日韩制服丝袜电影| 健身私教弄了我好几次怎么办| 18gay台湾男同亚洲男同| 日本熟妇色熟妇在线视频播放| 免费精品国产自产拍观看| 5566中文字幕| 婷婷影院在线观看| 亚洲AV午夜精品一区二区三区| 老鸭窝视频在线观看| 国产精品午夜高清在线观看| 中文天堂最新版www| 欧美成a人片在线观看久| 可以免费看污视频的网站| www亚洲精品| 好男人在线社区www在线视频一 | 明星造梦一区二区| 小明天天看成人免费看| 亚洲国产精品一区二区第四页| 高清国产性色视频在线| 在线视频精品一区| 久久久久亚洲av无码专区喷水 | 天天干在线观看| 久久国产热视频|