China's Wen Says Economy Still Under Pressure

BEIJING (Reuters) - China's economy is still facing big downward pressure and the foundation of a recovery is not yet solid, Chinese Premier Wen Jiabao said during a trip to the country's coastal Zhejiang province, state radio said on Wednesday.

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  • Chinese Communist Party
    The Communist Party of China (CPC), commonly known as the Chinese Communist Party (CCP), is the founding and sole governing political party of the People's Republic of China (PRC). The CCP leads eight other legally permitted subordinate minor parties together as the United Front.The CCP was founded in 1921, with the help of the Far Eastern Bureau of the Communist Party of the Soviet Union and ...
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  • Wen Jiabao
    Wen Jiabao (born 15 September 1942) is a retired Chinese politician who served as the sixth Premier of the State Council of the People's Republic of China and serving as China's head of government for a decade between 2003 and 2013. In his capacity as Premier, Wen was regarded as the leading figure behind Beijing's economic policy. From 2002 to 2012, he held membership in the Politburo ...
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  • Economy of China
    The economy of the People's Republic of China is a mixed socialist market economy which is composed of state-owned enterprises (SOEs) and domestic and foreign private businesses and uses economic planning. Since the 12th National Congress of the Chinese Communist Party in 1982, the economy has been described as socialism with Chinese characteristics.. The income generated by state-owned ...
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  • China Economy
    China’s government debt is almost entirely denominated in local currency and owned by domestic institutions. In addition, the government has cash savings equivalent to 6% of GDP in the People’s Bank of China. This situation shields the economy against government debt crises. In 2015, public debt amounted to 15.6% of GDP. China’s Monetary ...
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