AIRLINK 191.00 Decreased By ▼ -5.65 (-2.87%)
BOP 10.15 Increased By ▲ 0.01 (0.1%)
CNERGY 6.75 Increased By ▲ 0.06 (0.9%)
FCCL 34.35 Increased By ▲ 1.33 (4.03%)
FFL 17.42 Increased By ▲ 0.77 (4.62%)
FLYNG 23.80 Increased By ▲ 1.35 (6.01%)
HUBC 126.30 Decreased By ▼ -0.99 (-0.78%)
HUMNL 13.80 Decreased By ▼ -0.10 (-0.72%)
KEL 4.75 Decreased By ▼ -0.01 (-0.21%)
KOSM 6.55 Increased By ▲ 0.18 (2.83%)
MLCF 43.35 Increased By ▲ 1.13 (2.68%)
OGDC 226.45 Increased By ▲ 13.42 (6.3%)
PACE 7.35 Increased By ▲ 0.34 (4.85%)
PAEL 41.96 Increased By ▲ 1.09 (2.67%)
PIAHCLA 17.24 Increased By ▲ 0.42 (2.5%)
PIBTL 8.45 Increased By ▲ 0.16 (1.93%)
POWER 9.05 Increased By ▲ 0.23 (2.61%)
PPL 194.30 Increased By ▲ 10.73 (5.85%)
PRL 37.50 Decreased By ▼ -0.77 (-2.01%)
PTC 24.05 Decreased By ▼ -0.02 (-0.08%)
SEARL 94.97 Decreased By ▼ -0.14 (-0.15%)
SILK 1.00 No Change ▼ 0.00 (0%)
SSGC 40.00 Decreased By ▼ -0.31 (-0.77%)
SYM 17.80 Decreased By ▼ -0.41 (-2.25%)
TELE 8.72 Decreased By ▼ -0.01 (-0.11%)
TPLP 12.46 Increased By ▲ 0.25 (2.05%)
TRG 62.74 Decreased By ▼ -1.62 (-2.52%)
WAVESAPP 10.35 Decreased By ▼ -0.09 (-0.86%)
WTL 1.73 Decreased By ▼ -0.06 (-3.35%)
YOUW 4.02 Increased By ▲ 0.02 (0.5%)
BR100 11,814 Increased By 90.4 (0.77%)
BR30 36,234 Increased By 874.6 (2.47%)
KSE100 113,247 Increased By 609 (0.54%)
KSE30 35,712 Increased By 253.6 (0.72%)

Chinese Premier Wen Jiabao has pledged to make fighting inflation a priority but also stressed a policy to pursue sound and fast economic development, a government website said on Sunday.
"(We) will make fighting inflation the most prominent element of macroeconomic policy," the website quoted Wen as saying during a tour of Shanghai and nearby Jiangsu province, economic powerhouses hit by slowing exports, from July 4-6.
Wen stressed "sound and fast development" and efforts to prevent the economy growing or slowing too fast, the website said, adding that the government will also seek to boost farm output and income.
His remarks followed two of the country's top economic officials separately visiting parts of the country hit by weakening exports and promising to foster better business conditions.
Vice Premier Wang Qishan's trip to Shandong province and Commerce Minister Chen Deming's trip to Zhejiang province seemed aimed to send a message to the country's exporters that Beijing has their interests at heart as the global economy slows.
Wang said the government would "do everything possible" to help firms overcome difficulties. Exporters have said they are facing their toughest year in memory because of the combination of soft global demand and rising domestic costs from a stronger yuan and dearer labour.
After three years of explosive growth, China's trade surplus has begun to narrow. Its rolling 12-month surplus was $254.7 billion in May, down from $262.2 billion in 2007.
Chen said his ministry would listen to local governments, industry associations and firms, and bring about advantageous conditions for the stable development of commercial work.
There has been some speculation that China may restore export tax rebates that were cut in recent years, but neither official announced any policy changes, instead calling on manufacturers to improve their own competitiveness.
Wang also said that China would continue to implement a tight monetary policy. Some investors and firms have been holding out hope for relief from a relaxation of the tightening campaign, declared late last year.

Copyright Reuters, 2008

Comments

Comments are closed.