英语论文网

l very severe and complex. At present, Chinese economy rebounds a little, but the endogen-etic power of economic growth lacks. Of the three demands for consumption, investment and foreign countries, the investment is the key of boosting the economic growth. Driven by the government investment of four thousand billions, the aggregate investment of fixed assets accounted to 15500 billion in the first three quarters of last year, growing by 33.4% compared with those of the 2year ago. Also the state-owned and the state-owned holding investment increased by 40%. So it is very remarkable that the growth relies on the investment that depends on the government. The government investment and state-owned assets will generate crowding-out effect on the private investment and social investment, which will lead to the country prospers while its people stay still. It is not good for enhancing the vigor of the market that the state-owned assets are put into the industries of real estate, transportation and minerals etc. In the meantime, the social investment increases slowly limited by the financial factors and market access etc. A new year, 2010 is around the corner. However, the power of growth does not shift from the government investment to the social investment, which causes the insufficient endogen-etic growth vigor of Chinese economy.
Consumption is a highlight of last year. Stimulated by the activities of household appliances and cars to the countryside, old for new services, the car-purchasing tax relief and a series of policies to encourage housing consumption, the gross retail sales of social consuming goods totaled 8970 thousand billion in the first three quarters, up to 15.1% year-on-year, and after deducting the price factors actually it rose by 17.0%, to its highest since 1985. Besides the consumption of motor vehicles rapidly increased by 24.5% and the housing sales set a record since the founding of new China, both of which laid a solid foundation for the rapid economy rebound. Oriented by the strategy of expanding the domestic demands in the future economic development, the consumption will be impelled to be the major impetus for driving the future economic growth. But a stable endogen-etic mechanism of increasing consumption is not so easy to form especially when the national income distribution system does not change.
The exports and imports are influenced by the financial crisis directly and the outcome is the most noticeable. In the first three quarters of last year, total amount of exports and imports was 1557.82 billion U.S. dollars, down by 20.9% year-on-year. In the second half of last year, the decreasing amplitude of exports showed a sign of narrowing with slowly increasing external demands. In 2010, that the global economy moderately recovered will urge the exports situation in China to change for the better. Moreover, the strong domestic demands and increasing price of stable commodities will also power the imports rebound, but the space for foreign trade policies becomes smaller.
Last year, Chinese economy experienced a recovery mainly owing to the policy stimulus, while it was still lack of the vigor to free from the revitalization measures and gain the endogen-etic growth. What's more, large-scale economic stimulus policies triggered many problems. For example, over-investment initiated the excess capacity; excessively easy monetary policies caused the