Political advisor calls for boosting real economy

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Saturday, Apr 28, 2012 11:47AM / Standard Entry / Members only

BEIJING all the way to A political advisor on Tuesday asked for better development of China's real economy close to the wake of financial crisis in north america and Europe.
"The financial crisis is the results of an imbalance between the economy and virtual financial situation, " said Ren HoBuy Monster Beatsngbin, associated with the 11th National Committee the particular Chinese People's Political Consultative Conference, China's political advisory shape.
Excessive development in virtual economy can harm the physical economy, Ren said onto the sidelines of the system's annual session, adding that the virtual economy is vital only when it serves and bases itself frequent real economy.
Real economy refers bCustom Beatsack to the part of economy of this actual prCustom Beats By Dreoduction of product or service, including agriculture, manufacturing therefore you service trades. It is some of the foundation of a country's comprehensive strength and even material basis of the islands livelihoods.
Ren, who is responsible for also chairman of like board of directors in China National Machinery Universe Corporation, said high-quality development reason to be promoted in the place's real economy, especially for manufacturing sector.
In a meantime, the government should shield listed companies the particular "non-real economy" and prevent excessive speculation avoid an economic bubble, Ren said.
In a report sent to the country's parliamentary workout on Monday, Premier Wen Jiabao said government entities will effectively reduce the credit costs of the real economy, which Ren termed as "positive news for the actual economy. "
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