Tags: Chinas Wen Vows to Control Inflation | Curb Property Speculators in New Year

China's Wen Vows to Control Inflation, Curb Property Speculators in New Year

Wednesday, 02 Feb 2011 09:44 AM

China will fight inflation and crack down on property speculators in the year ahead, state media on Wednesday quoted Premier Wen Jiabao as saying, as the country gave a noisy, chaotic welcome to the Year of the Rabbit.

In a speech marking the Lunar New Year holiday and carried in major newspapers, Wen said the government would try to keep overall consumer prices stable but cautioned China would have to deal with thorny problems in 2011.

"Our way ahead will still face many difficulties and problems," Communist Party mouthpiece the People's Daily quoted him as saying.

"We must ... resolve the problems that the people most care about," he added. "We must resolutely prevent prices from rising too fast ... and unswervingly do a good job of controlling the property market."

The government has vowed repeatedly to tame inflation, a source of social unrest in the past and a major concern for the ruling Communist Party, which prizes stability above all else.

Though inflation eased in December to an annual pace of 4.6 percent, economists warn price pressure will continue to mount.

Wen, who in previous years has spent the Lunar New Year holiday with everyone from AIDS patients to survivors of 2008's devastating Sichuan earthquake, this year visited an old revolutionary base in the poor central province of Anhui.

Visits by top leaders over the Lunar New Year are typically tightly scripted events heavy on the propaganda.

The official Xinhua news agency showed pictures of Wen taking a toast with happy villagers and cooking over an enormous wok, wearing a blue checked apron with a rabbit on its front.

"Is your household facing any hardships?" state radio quoted Wen as asking a villager, to which he was told everything was great, thanks to "the Party's policies".

"Only when the people living in old revolutionary bases live better lives can we feel relieved," Wen added.

HU VISITS SOLDIERS

President Hu Jintao, by contrast, visited the northern province of Hebei. State television showed him at a military base singing patriotic songs with soldiers and making dumplings, an auspicious new year food.

"The military has an important responsibility towards preserving social stability and protecting national security," said Hu, who has made military modernization one of his policy priorities.

He later went to a drought-struck village. Large parts of northern China have been struck by drought this winter.

The New York-based Human Rights in China is urging people to mark the holiday by sending messages to 35 activists who are in jail or detention, including Nobel Peace Prize winner Liu Xiaobo, to remind them they are not forgotten.

Chinese soothsayers say the Year of the Rabbit promises to bring political upheaval from restless youth, though the rabbit is believed to be one of the happiest signs.

Beijing and the commercial capital Shanghai reverberated with ad hoc firework displays and the sound of firecrackers, whose smoke filled the streets, as Chinese gave a traditionally raucous welcome to the new year.

"The price of groceries has risen so much recently, but my pension has remained the same," said retiree Wang Suxia, as she watched the fireworks in a Beijing suburb. "I hope prices go down and my pension can go up a little in the new year."

Firecrackers are believed to scare off evil spirits and entice the god of wealth to people's doorsteps once New Year's Day arrives. Celebrations will carry on into the early hours of Thursday, officially the first day of the Lunar New Year.

© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
Economy
China will fight inflation and crack down on property speculators in the year ahead, state media on Wednesday quoted Premier Wen Jiabao as saying, as the country gave a noisy, chaotic welcome to the Year of the Rabbit. In a speech marking the Lunar New Year holiday and...
Chinas Wen Vows to Control Inflation,Curb Property Speculators in New Year
583
2011-44-02
Wednesday, 02 Feb 2011 09:44 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved