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Chinese Economy 2014 Expectation
   2014-03-10 08:56:23    CRIENGLISH.com      Web Editor: Han Bing


Welcome to our weekly edition of Biz Buzz, looking at the emerging trends in the Chinese business world.

On this week's show, we get perspectives on Chinese economy 2014 expectation, traditional and new driving forces of the Chinese economy as well as Chinese economy in the eyes of other countries.

Selected News:

Q&A: Chinese Economy 2014 Expectation

This week, Chinese Premier Li Keqiang delivered his first annual government work report during the opening session of the NPC, China's top legislature. In the report, he said China sets its GDP target for 2014 of 7.5 percent.

The goal is not a surprise as it remains the same as that of last year. However, it sends a stronger signal that China intends to implement further reforms and achieve solid growth.

For more, Zheng Chenguang spoke to Victor Gao, Director of the China National Association of International Studies.

Report: Traditional and New Driving Forces of the Chinese Economy

China has set a goal to achieve economic growth at the rate of 7.5 percent in 2014. The growth is expected to be achieved with improvements in the country's production quality, sustainability and innovation.

Different regions in China have been developing in this direction in their own way.

Su Yi has some insights.

In southern China's Guangdong Province, one of the richest provinces in the country, the percentage of service sector in local economy has for the first time surpassed that of traditional industry.

Chen Hongyu works in the Counsellor's Office under the provincial government. He says that this has development has helped to maintain trade growth in Guangdong, where trade is a traditional advantage.
"Last year, our export and import patterns were generally healthy. We did a lot to support trade to maintain this strong pillar of our local economy."

Not far from Guangdong, Guizhou Province in southwestern China is working out its own path for development. Guizhou is developing itself into a southern base for the big data industry.

Guizhou has recently attracted domestic technology enterprises to make an investment plan worth 80 billion yuan for big data. China's telecommunication giants also set their big data bases in Guizhou.

Jiao Gang, General Manager of Cloud Computing with China Unicom, explains why.
"Databases should not be separated. They have commercial value, which has to connect with the macro economy and service. We chose Guizhou because we believe in its potential."

Zeng Yu, Deputy Director of the Economic and Information Committee of Guizhou, says their province is a good place for big data, as it has an abundant supply of electricity and a comfortable climate.
"Big databases require very strong energy supply and equipment cooling. Guizhou can meet these demands."

Clearly recognizing its advantages, Guizhou has been improving its soft environment for big data industry. It is estimated that Guizhou will establish its big data industry framework by the end of 2015, achieving an output of 110 billion yuan.

The stories of Guangdong and Guizhou are examples of what's really happening in China. A healthy, sustainable economy is the very important reflection of our target.

Q&A: Chinese Economy in the Eyes of Other Countries

Now let's hear about the global response towards the current Chinese economy and its goal in 2014.

Zheng Chenguang interviewed Hans Hendrischke, Professor of Chinese Business and Management, the University of Sydney.

And that's all we have time for on Biz Buzz this episode. Remember you can get in touch with us with any questions or comments at newsplus@cri.com.cn or visit our website newsplusradio.cn. Biz Buzz is aired every Saturday on FM91.5 and AM846 in Beijing and other overseas stations. For program producer Chen Mo, I'm Wu You, thank you for listening.


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