英文要目 第26期

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Opportunities for Mobile Internet Industry

China’s mobile internet industry will be 10 times the size of the desktop internet in about five years, said Zhang Xiaoqiang, Vice Director of China’s National Development and Reform Commission. Experts said that the mobile internet industry will help promote the global economic growth in the following ten years and bring many changes to human society, including challenges to social management. China's mobile internet industry should improve its capability of technological innovation and create its own business opportunities.

Mission Impossible?

Energy consumption per unit of GDP fell by 1.6% in China in the first three quarters of 2011, said the Vice Director of China’s National Development and Reform Commission (NDRC) Xie Zhenhua, who added that the annual target is 3.5%. Source from the NDRC told our reporters that it is very difficult to achieve the annual goal in energy saving and emission reduction in the fourth quarter. Experts warn that the pressure of energy saving and emission reduction will increase in the following four years.

Banks Threatened by Excessive Fluctuation of House Price

China’s 2011 Central Economic Work Conference reiterated that the macro control policy on the real estate will continue and the government will make efforts to rationalize the house price. The growth rate of the country’s investment in real estate development has declined in the latest four months and sales of house have shrunk for five consecutive months. Banks will face financial risks in 2012 if real estate price fluctuate excessively, while some real estate developers may experience capital shortage.

Detailed Macroeconomic Policy for 2012

China will adhere to the prudent monetary policy and proactive fiscal policy in the coming year ― the outline of macroeconomic policy has been mapped out during the annual CEWC (Central Economic Work Conference) held on Dec.14th. If there is a stable inflation rate and a substantial decline in property price during the first half of 2012, the monetary policy is very likely to maintain neutral and may turn to ease more apparently from the third quarter. These regulations aims to curb speculation on the property market, improve domestic consumption, boost the development of service industry, and reduce pollution. These policies are considered by experts as the authority’s effort to strike a balance between economic growth and structure rebalancing.