Cities called key to growth

 　　BEIJING, Mar¹. 18 (Xinhuanet) -- Urbanization will be a major feature of China's economic growth and continue to gain momentum², Liu He, Party chief of the Development Research Center of the State Council, said on Saturday.

　　At the China Development Forum³ 2012, economists⁴ said that China urgently needs to step up its economic restructuring, noting that urbanization and further reform of the nation's distribution system will speed up the process.

　　A slew⁵ of new central cities will gradually emerge in China's western areas, unleashing⁶ enormous potential for investment and consumption, Liu said.

　　The number of China's city dwellers⁷ surpassed its rural population for the first time in 2011. The urbanization rate is likely to increase from just above 50 to around 60 percent by 2020 and 65 percent by 2030, according to a study by the center.

　　Ma Jiantang, head of the National Bureau of Statistics, said the country's urbanization rate has much room to grow, especially in western areas. The average urban share in developed countries is 66 percent.

　　Driven by more cities and industrialization, the growth of the world's second-largest economy will continue but probably not as rapidly as in previous years, Ma said.

　　Residents moving from rural to urban areas will see their personal consumption expand by three times, which would bolster⁸ the country's economic growth when investment and exports fall, he said.

　　Ma predicted that China's industrialization process is less than 60 percent complete, citing internal NBS research. He said that is why China's industrial sector⁹ is still growing at a fast rate.

　　However, an aging population and high consumption of energy and environment are posing challenges to a sustainable growth, which urge China to further transform its economic pattern, Ma said.

　　The year 2011 was the first time China had seen its proportion of workers in the overall population shrinking, Ma said, adding that the population will be aging even faster in the future.

　　Stephen Roach, non-executive chairman of Morgan Stanley Asia, said a hard landing will "never happen" in China, however, the country's implementation¹⁰ of the economic transformation¹¹ was too slow.

　　China should make further progress in the context of the 12th Five-Year Plan (2011-15) in sectors¹² such as social security to make consumption a major driver of China's economy, he said.

　　Qian Yingyi, dean of the school of economics and management of Tsinghua University, said in-depth fiscal¹³ reform is crucial.

　　Qian was approved last week by the State Council as an academic adviser¹⁴ to the monetary¹⁵ policy committee of the People's Bank of China, together with two other economists, Chen Yulu and Song Guoqing.

　　Earlier this week the National People's Congress adopted the budget plan for 2012 with 2,291 votes for it, 438 against and 131 abstentions. The split reflects delegates' concern about the expansionary fiscal policy, he said.

　　China's fiscal income increased dramatically from 1.3 trillion yuan ($0.2 trillion) in 2000 to 10.3 trillion yuan in 2011, said Qian. However, "the distribution among government, business and consumers has not been adjusted but further distorted".

　　The imbalance can also be attributed to the high savings¹⁶ and investment of the government and State-owned companies, he said.

　　Future fiscal regulation "should pay more attention to the underlying¹⁷ problems and systematic¹⁸ adjustment", Qian said.

　　Li Daokui, professor at Tsinghua University and a former central bank adviser, also put reform at the top of this year's economic agenda.

　　Li said settling the fiscal balance sheet would be a major task for the government, which would allow a steady and continuous fiscal stimulus¹⁹, he said.

　　"China's macro policies have a long-term goal rather than just curbing²⁰ inflation and restoring growth," Li said. For instance, a "prudent²¹" monetary policy is more about economic transformation than curbing prices.

　　"If we continue striving to maintain a high growth rate in the short term as advised by Western countries, we'll definitely see our contribution to the world economy subside²² in the long term," Li said.

　　As for the financial industry, he suggested banks "have conditions" to liberalize the interest rate and securitize assets. Considering banks' high profits in 2011, he said they should increase their capital adequacy ratio and better serve the real economy.

　　Wu Jinglian, senior research fellow of the Development Research Center of the State Council, said China must lay out a "top-level design".

　　"The path China chose 30 years ago was correct and should be adhered to," Wu said.

　　Economic structural²³ transformation does not mean the whole country should switch to high technology and give up manufacturing. "The most essential thing is to increase added value of these enterprises and improve workers' knowledge and skills, which will increase their income and the country's consumption as a whole in the long run," he said.

1 mar   

vt.破坏，毁坏，弄糟

参考例句：

• It was not the custom for elderly people to mar the picnics with their presence.大人们照例不参加这样的野餐以免扫兴。
• Such a marriage might mar your career.这样的婚姻说不定会毁了你的一生。

2 momentum   

n.动力，冲力，势头；动量

参考例句：

• We exploit the energy and momentum conservation laws in this way.我们就是这样利用能量和动量守恒定律的。
• The law of momentum conservation could supplant Newton's third law.动量守恒定律可以取代牛顿第三定律。

3 forum   

n.论坛，讨论会

参考例句：

• They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。
• The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。

4 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

5 slew   

v.（使）旋转；n.大量，许多

参考例句：

• He slewed the car against the side of the building.他的车滑到了大楼的一侧，抵住了。
• They dealt with a slew of other issues.他们处理了大量的其他问题。

6 unleashing   

v.把（感情、力量等）释放出来，发泄( unleash的现在分词 )

参考例句：

• Company logos: making people's life better by unleashing Cummins power. 公司理念：以康明斯动力建设更美好的生活！ 来自互联网
• Sooner or later the dam will burst, unleashing catastrophic destruction. 否则堤坝将崩溃，酿成灾难。 来自互联网

7 dwellers   

n.居民，居住者( dweller的名词复数 )

参考例句：

• City dwellers think country folk have provincial attitudes. 城里人以为乡下人思想迂腐。 来自《简明英汉词典》
• They have transformed themselves into permanent city dwellers. 他们已成为永久的城市居民。 来自《简明英汉词典》

8 bolster   

n.枕垫；v.支持，鼓励

参考例句：

• The high interest rates helped to bolster up the economy.高利率使经济更稳健。
• He tried to bolster up their morale.他尽力鼓舞他们的士气。

9 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

10 implementation   

n.实施，贯彻

参考例句：

• Implementation of the program is now well underway.这一项目的实施现在行情看好。

11 transformation   

n.变化；改造；转变

参考例句：

• Going to college brought about a dramatic transformation in her outlook.上大学使她的观念发生了巨大的变化。
• He was struggling to make the transformation from single man to responsible husband.他正在努力使自己由单身汉变为可靠的丈夫。

12 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

13 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

14 adviser   

n.劝告者，顾问

参考例句：

• They employed me as an adviser.他们聘请我当顾问。
• Our department has engaged a foreign teacher as phonetic adviser.我们系已经聘请了一位外籍老师作为语音顾问。

15 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

16 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

17 underlying   

adj.在下面的，含蓄的，潜在的

参考例句：

• The underlying theme of the novel is very serious.小说隐含的主题是十分严肃的。
• This word has its underlying meaning.这个单词有它潜在的含义。

18 systematic   

adj.有系统的，有计划的，有方法的

参考例句：

• The way he works isn't very systematic.他的工作不是很有条理。
• The teacher made a systematic work of teaching.这个教师进行系统的教学工作。

19 stimulus   

n.刺激，刺激物，促进因素，引起兴奋的事物

参考例句：

• Regard each failure as a stimulus to further efforts.把每次失利看成对进一步努力的激励。
• Light is a stimulus to growth in plants.光是促进植物生长的一个因素。

20 curbing   

n.边石，边石的材料v.限制，克制，抑制( curb的现在分词 )

参考例句：

• Progress has been made in curbing inflation. 在控制通货膨胀方面已取得了进展。
• A range of policies have been introduced aimed at curbing inflation. 为了抑制通货膨胀实施了一系列的政策。

21 prudent   

adj.谨慎的，有远见的，精打细算的

参考例句：

• A prudent traveller never disparages his own country.聪明的旅行者从不贬低自己的国家。
• You must school yourself to be modest and prudent.你要学会谦虚谨慎。

22 subside   

vi.平静，平息；下沉，塌陷，沉降

参考例句：

• The emotional reaction which results from a serious accident takes time to subside.严重事故所引起的情绪化的反应需要时间来平息。
• The controversies surrounding population growth are unlikely to subside soon.围绕着人口增长问题的争论看来不会很快平息。

23 structural   

adj.构造的，组织的，建筑（用）的

参考例句：

• The storm caused no structural damage.风暴没有造成建筑结构方面的破坏。
• The North American continent is made up of three great structural entities.北美大陆是由三个构造单元组成的。