FINANCIAL TIMES: ….At the annual opening ceremony of the parliament on Monday, Chinese premier Wen Jiabao said the government’s target for economic growth in 2012 was 7.5 per cent, the first time it has dropped below 8 per cent since 2004.
In a move that will please China’s economic partners, Mr Wen emphasised the government’s ambition to refocus the country towards domestic consumption and away from investment and exports. …
Signalling his ambition to boost consumer demand in 2012, Mr Wen prioritised care for the elderly, property management, healthcare and domestic services sectors and said the government would “vigorously develop” these industries while encouraging consumer spending on cultural activities, tourism and fitness… (more)
