Wen Jiabao: The stimulus package has begun to bear fruit

According to Xinhua News Agency, Premier Wen Jiabao said in a keynote speech at the opening ceremony of the Boao Forum for Asia 2009 on the 18th that China’s package of measures to promote stable and rapid economic development has achieved initial results and positive changes in economic performance. Better than expected.

Wen Jiabao said that the results are mainly manifested in five aspects: First, the investment growth rate is accelerated, consumption is growing rapidly, and domestic demand continues to increase. The GDP in the first quarter increased by 6.1%. The fixed asset investment of the whole society increased by 28.8%, which was 4.2 and 6.4 percentage points higher than that of the same period of last year and the fourth quarter respectively; the total investment of urban newly started projects was increased by 87.7%. The total retail sales of consumer goods actually increased by 15.9%, an increase of 3.6 percentage points year-on-year. Driven by policies such as “home appliances going to the countryside” and small-displacement car tax cuts, the production and sales of home appliances, agricultural machinery and other industries have increased substantially, and car sales have reached record highs. The sales area of ​​commercial housing increased by 8.2%, initially reversing the decline in more than a year. Second, industrial production has gradually stabilized and the agricultural situation has been generally stable. In March, the added value of industrial enterprises above designated size increased by 8.3% year-on-year, an increase of 4.5 percentage points over the previous two months; the consumer goods industry showed a rebound trend, and the equipment manufacturing industry and some raw material industries turned around. The implementation of the policy of strengthening agriculture and benefiting farmers has achieved positive results. The area planted with grain has increased, and summer grain has grown better. Third, structural adjustment was actively promoted, regional development was coordinated, and industrial upgrading was accelerated. Fourth, urban employment increased and residents' income increased. Fifth, the banking system has sufficient liquidity, the financial market is running smoothly, social confidence is boosted, and market expectations are improving.