The Evaluation Of South Korea'S Economic Policy In China

Premier Wen Jiabao's 2010 report on China's government work report

At the press conference held in Seoul in March 8th, Yin Zengxuan made the above remarks when answering our reporter's questions.

He said that the Chinese government is highly vigilant about asset bubbles and inflation caused by the rapid economic growth. The policy direction of 2010 shows that the Chinese government will continue to expand its economy through expanding domestic demand, and on the other hand, it will also appropriately restrict the scale of credit through measures such as raising the reserve ratio, which is very necessary for maintaining overall economic stability.

He said that China's "double track economic strategy" is also for South Korea.

Yin Zengxuan also pointed out that solving the imbalance of world economic development will become an important topic of this year's twenty nation summit. As the host country of the twenty summit in November 2010, South Korea sincerely hopes that heads of state can discuss this issue seriously and patiently, and reach agreements acceptable to all sides, so as to achieve the sustainable and balanced development of the world economy.

On the issue of RMB appreciation, he said that a series of recent talks by Chinese leaders showed that the Chinese government is seriously considering the balanced development of the world economy.

With regard to South Korea's "withdrawal strategy", Yin Zengxuan said that early or too late implementation of the "withdrawal strategy" is bad for the Korean economy.

He said that from the current economic situation in South Korea, the self growth ability of the private economy has not yet fully recovered, unemployment is still serious and household debt has deteriorated.