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China sets 4.8% inflation target for 2008

Premier Wen Jiabao pledged to cap China's consumer price index (CPI) growth rate within 4.8 percent in 2008 -- the average level of last year, to ease the country's mounting pressure of inflation.


President Hu Jintao and Premier Wen Jiabao greet deputies at a preparatory meeting for the 1st session of the 11th National People's Congress in the Great Hall of the People on Tuesday. [China Daily]
The country's economic juggernaut will be steered to move at around 8 percent this year, on the basis of "improving the economic structure, productivity, energy efficiency and environmental protection", Wen said at the opening of the annual legislative session in Beijing on Wednesday morning.
"The current price hikes and increasing inflationary pressures are the biggest concern of the people... One major task for macroeconomic regulation this year is to stem prices from rising rapidly, " he said in his "state of the nation" address to the National People's Congress, China's top legislature.

To that end, the country will vigorously boost production of food, edible oil, meat and other necessities, strictly reining in the industrial use of grain and grain exports, while adequately increasing imports of major consumer products that are in short supply on the domestic market.

For 2008, China will follow a prudent fiscal policy and a tight monetary policy, to sustain steady and fast economic development and avoid drastic fluctuations in the economy, Wen told nearly 3,000 people's deputies gathered at the Great Hall of the People.

The full two-week session of the legislature is an important occasion for legislators to debate and endorse legislation and national policies. Among their tight agenda, they will discuss and approve plans on reform of the agencies of the State Council – China’s Cabinet, a move that Premier Wen hoped will help reduce responsibilities overlapping and boost government efficiency.

Details of government bodies realigning are not immediately available. Wen said the plans will explore ways to establish "larger departments", or so-called super-ministries, that organically integrate the functions of smaller departments. The reform also seeks to clearly define the responsibilities and powers of each department.

Driven largely by huge increases in food prices, China's CPI, a barometer of inflation, surged to 7.1 percent in January, a record high in 11 years. The CPI rose to the highest in a decade at 4.8 percent in 2007, according to the National Bureau of Statistics.

The premier said that because factors driving prices up are still at work, upward pressure on prices will remain great this year.

Meanwhile, with the production material prices climbing steadily, and a steep rise in realty prices, the country is confronted with a rather arduous task in holding down inflation this year, he said.

"So we must take powerful measures to increase effective supply while curbing excessive demand," he said.

These measures included instituting contingency plans for market supply and price, putting on hold the price surge in production materials, especially those for agricultural production, and subsidizing residents in the lower income bracket.

Improving National Defense

China will try to improve defense and its military in a view to safeguarding the nation while lending a strong support for economic prosperity and social stability, Wen Jiabao said.

"Improving national defense and the military is a strategic task," Wen said.

China must balance economic development and national defense to make China prosperous and its armed forces strong as the nation carries out modernization.

"Our aim is to enable the army to fully carry out its historic mission in the new stage in the new century, enhance its ability to respond to security threats and accomplish a diverse array of military tasks, and staunchly protect China's sovereignty, security and territorial integrity," Wen told deputies.

Wen also said China will strengthen the efforts to improve the People's Armed Force to enhance its ability to enforce law, respond to emergencies, combat terrorism and safeguard stability.

NPC session spokesperson Jiang Enzhu said on Tuesday that China's defense budget is budgeted to to rise 17.6 percent in 2008.

The planned defense budget for 2008 is 417.769 billion yuan, a rise of 62.379 billion yuan from the actual military spending last year, Jiang Enzhu, spokesman for the annual session of the National People's Congress (NPC), told a press conference in Beijing.

The budget equals $57.229 billion if converted at the exchange rate by the end of last year, Jiang said.

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China sets 4.8% inflation target for 2008
中国2008年通货膨胀目标4.8%
Premier Wen Jiabao pledged to cap China's consumer price index (CPI) growth rate within 4.8 percent in 2008 -- the average level of last year, to ease the country's mounting pressure of inflation.
为了减轻不断增加的通货膨胀压力，国家总理温家宝承诺中国2008年物价消费指数增长率将与去年持平，在4.8%以内。

President Hu Jintao and Premier Wen Jiabao greet deputies at a preparatory meeting for the 1st   session of the 17th National People's Congress in the Great Hall of the People on Tuesday.
国家主席胡锦涛、总理温家宝问候了参加星期二于人民大会堂举行的第17次全国人民代表大会第一次会议预备会议的代表。

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The country's economic juggernaut will be steered to move at around 8 percent this year, on the basis of "improving the economic structure, productivity, energy efficiency and environmental protection", Wen said at the opening of the annual legislative session in Beijing on Wednesday morning.
温家宝在周三早晨于北京举行的每年一度的立法会上说：“今年过度膨胀的经济增长将在促进经济、生产力、能效以及生态保护的发展的基础上被控制在8%左右”。

"The current price hikes and increasing inflationary pressures are the biggest concern of the       people... One major task for macroeconomic regulation this year is to stem prices from rising rapidly, " he said in his "state of the nation" address to the National People's Congress, China's top       legislature.
他在中国最高立法机关——中国人民代表大会的讲话中说：“当前人们最关心的是不断增长的通货膨胀压力和物价水平……，控制住物价的飞速上涨是今年宏观调控的主要任务。”

nlj

To that end, the country will vigorously boost production of food, edible oil, meat and other necessities, strictly reining in the industrial use of grain and grain exports, while adequately increasing imports of major consumer products that are in short supply on the domestic market.
因此，在充分增加一些国内急需的主要消费品的进口的同时，国家将大力支持粮食，食用油，肉类和其它生活必需品的生产，严格控制粮食的工业使用和粮食出口。

For 2008, China will follow a prudent fiscal policy and a tight monetary policy, to sustain steady and fast economic development and avoid drastic fluctuations in the economy, Wen told nearly 3,000 people's deputies gathered at the Great Hall of the People.

温家宝对人民大会堂与会的将近3000名人民代表说在2008年，中国将继续执行谨慎的财政政策和紧缩的货币政策，使经济持续稳步快速发展并避免经济的大幅波动。

nlj

The full two-week session of the legislature is an important occasion for legislators to debate and endorse legislation and national policies. Among their tight agenda, they will discuss and approve plans on reform of the agencies of the State Council – China’s Cabinet, a move that Premier Wen hoped will help reduce responsibilities overlapping and boost government efficiency.
整整两周的立法会议，对人民代表们来说一个重要事件。他们将讨论并通过法律和国家政策。在他们紧张的日程中，他们将讨论并通过国务院(中国的内阁)所属部委的改革计划，这是温总理提出的一项举措，旨在减少责任的重叠和提高政府动作的效率。

Details of government bodies realigning are not immediately available. Wen said the plans will explore ways to establish "larger departments", or so-called super-ministries, that organically integrate the functions of smaller departments. The reform also seeks to clearly define the responsibilities and powers of each department.
政府部门的重组的细节尚没有公开。温说计划将尝试建立‘大部制’，或所谓的超级部。超级部将系统地整合一些小部的功能。该改革也试图明确地规定每个部的责任和权力。

nlj

Driven largely by huge increases in food prices, China's CPI, a barometer of inflation, surged to 7.1 percent in January, a record high in 11 years. The CPI rose to the highest in a decade at 4.8 percent in 2007, according to the National Bureau of Statistics.

受粮食价格的驱动，中国的CPI，通货膨胀的一个指标，一月份飙升到百分之七点一，这是11年来的最高的一次。据国家统计局，在2007年， CPI 升到了十年来的最高值百分之四点八。

The premier said that because factors driving prices up are still at work, upward pressure on prices will remain great this year.

总理说因为驱动价格上升的因素依然存在，今年价格上升的压力依然很大。


Meanwhile, with the production material prices climbing steadily, and a steep rise in realty prices, the country is confronted with a rather arduous task in holding down inflation this year, he said.

同时，随着原材料价格的稳步攀升和房地产价格迅速上升，他还说今年国家面临着相当艰巨的减少通胀的任务。


呵呵，这篇文章我算是承包了。

nlj

"So we must take powerful measures to increase effective supply while curbing excessive demand," he said.
‘所以我们在控制过度需求的同时必须采取强有力的措施增加有效供给’，他说。


These measures included instituting contingency plans for market supply and price, putting on hold the price surge in production materials, especially those for agricultural production, and subsidizing residents in the lower income bracket.

这些措施包括制定市场供给和价格的应急方案，控制原材料， 尤其是农产品原材料价格暴涨并给低收入阶层给予补助。



Improving National Defense

加强国防

China will try to improve defense and its military in a view to safeguarding the nation while lending a strong support for economic prosperity and social stability, Wen Jiabao said.

"Improving national defense and the military is a strategic task," Wen said.

着眼于保卫国家安全并为经济繁荣和社会稳定提供有力支持，中国将加强国防和军队建设。
“加强国防和军队建设是一项战略任务”，温家宝说。

China must balance economic development and national defense to make China prosperous and its armed forces strong as the nation carries out modernization.

中国必须平衡经济发展和国防建设的关系以保证在现代化过程中国家繁荣并且有着强大的国防能力。

"Our aim is to enable the army to fully carry out its historic mission in the new stage in the new century, enhance its ability to respond to security threats and accomplish a diverse array of military tasks, and staunchly protect China's sovereignty, security and territorial integrity," Wen told deputies.

我们的目标是在新世纪新舞台使我们的军队完全胜任他的历史使使命，提高它对安全威胁的应对能力并完成一系列军事任务，忠诚地保卫中国的国家主权，安全和领土完整。温对代表们说。

Wen also said China will strengthen the efforts to improve the People's Armed Force to enhance its ability to enforce law, respond to emergencies, combat terrorism and safeguard stability.

温也说到中国将加大力度加强人民武装力量的建设，以提高它的执法，应对突发事件和打击恐怖主义和保护社会稳定的能力。

NPC session spokesperson Jiang Enzhu said on Tuesday that China's defense budget is budgeted to to rise 17.6 percent in 2008.

人民代表大会发言人姜恩柱星期二说在2008年，中国的国防预算将增加到百分之十七点六。

The planned defense budget for 2008 is 417.769 billion yuan, a rise of 62.379 billion yuan from the actual military spending last year, Jiang Enzhu, spokesman for the annual session of the National People's Congress (NPC), told a press conference in Beijing.

2008年的计划国防预算是四千一百七七点六九亿元，比去年的实际军费开支多了六百二十三点七九亿元，姜恩柱，今年人民代表大会的发言人，在北京的一个记者会说。

The budget equals $57.229 billion if converted at the exchange rate by the end of last year, Jiang said.

姜还说，如果按去年年底的汇率折算的话，这个预算是五百七十二点二九亿美元。






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