国内英语资讯:Yearender-Xinhua Insight: Doom-mongers get it wrong on Chinas economy_时事

国内英语资讯:Yearender-Xinhua Insight: Doom-mongers get it wrong on Chinas economy

The recently concluded Central Economic Work Conference reaffirmed that houses are to be built for living in, not for speculation, vowing to adopt financial, fiscal, tax, land and regulation measures to build a long-term system that provides housing for all people.

CHINA CULPRIT OF GLOBAL STEEL WOES

Throughout the year, China has faced anti-dumping probes from many trade partners, the EU in particular. Along with these trade remedy measures is the allegation that China is an irresponsible exporter of cheap steel, causing instability in the global steel sector.

However, it is unfair to accuse China of being the cause of the global steel sector's woes, and finger pointing will not solve the problem.

A sluggish world economy and shrinking demand is the root cause of the steel sector's troubles, and the world should work together through the difficult times, said Wang Hejun, head of the trade remedy and investigation bureau of the Ministry of Commerce.

As the world's largest steel consumer and producer, China is pressing ahead with cutting excess capacity in steel, aiming to reduce 100 million to 150 million tonnes of crude steel capacity by 2020.

CHINA LESS WELCOMING TO FOREIGN INVESTMENT

The United States sensed an increasing reluctance among China's economic planners to pursue further reforms, said Chris Wilson, deputy chief of the U.S. mission to the WTO, in July, citing concerns of "more and more" U.S. companies about "a less welcoming business and regulatory environment for foreign enterprises" in China.