Sat, April 18, 2009
China > China & World > Boao Forum for Asia 2009

Long: China to move toward healthy, rapid economic development

2009-04-18 02:08:18 GMT2009-04-18 10:08:18 (Beijing Time)  Xinhua English

BOAO, HAINAN, April 17 (Xinhuanet) -- China will curb the downward trend of its economy within a short term, and then start moving toward comparatively healthy and rapid economic development again, said Long Yongtu, secretary-general of the Boao Forum for Asia, on Friday.

The global economic crisis has different impacts on different countries, and the degree of the impact differentiates in every individual country, as each one is in a different stage of economic development, Long told Xinhuanet during an exclusive interview in Boao, south China's Hainan Province.

Long made the remarks when answering questions about whether the current financial crisis has bottomed out.

"It is inadequate to generally assess what stage the current global financial crisis has reached and when its turning point will occur," said Long.

"The key to have an accurate judgment on the impact of the financial crisis and on what time the world will shake off the shadow of the crisis is to evaluate the situation of each industry, country and region separately," added the secretary-general.

Long stressed that the focus of this year's forum is on China and Asian countries' economy.

Firstly, in terms of the economic situation in China and other Asian countries, he said the crisis has not hit the region as hard as it has done to the developed countries in the West.

Secondly, the economy of China and other Asian countries is still on the rise. Therefore, it will take shorter time for it to recover. The domestic demands in Asian countries remain very strong, especially the demands for investments and consumptions.

"Though the international trade has suffered greatly from the impact of the financial crisis, some fundamental driving forces, which can promote its development, still exist," Long said.

"For example, there are two key driving forces in China's domestic development. One is industrialization, and the other is urbanization. Both will play an increasingly larger role (in China's economic development)."

Long emphasized that the financial crisis is just an external factor affecting a country's economic development, which mainly relies on the internal factors. As long as the internal factors exist, the impact of the external factors will be limited.

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