China media: Economic growth
- 17 July 2014
- From the section China
Chinese papers praise the government's economic policies as the latest growth figures are released.
The economy expanded 7.5% in the April-to-June quarter, up from 7.4% growth in the previous quarter. Several media outlets describe the growth as "stable" and attribute the expansion to government policies.
The Securities Times notes that the "stable growth" is the effect of a "series of policies aimed at achieving steady growth, economic reform, restructuring and benefiting the people".
The commentary predicts that the Chinese economy will remain stable as the policies "continue to have a good impact in the future".
The Beijing Times allays fears over the slowdown and adds that instead of "relentlessly pursuing the beautiful GDP figures", one should accept the "new norm of a steady growth in the GDP".
Liu Mingkang, former chairman of the China Banking Regulatory Commission, however, points out some of the problems in the world's second-largest economy.
"The weakening of exports is a major external problem that China is facing," he tells the Economic Daily.
He adds that the slowdown in investments, an increase in government debt and risks in the property market are some of the domestic problems that are likely to add pressure to the economy.
Meanwhile, media discuss China's decision to move an oil rig out of the contested waters in the South China Sea.
Beijing announced that it would remove the oil rig after concluding exploratory drilling in the disputed waters.
China moved the rig into waters near the Paracel Islands - which Vietnam also claims - in May. In a statement, China National Petroleum Corp (CNPC) said it would now assess the data collected by the rig.
Media outlets reiterate the official explanation that the decision "has nothing to do with external factors", but it was taken due to safety considerations as the "typhoon season is coming".
An analysis in Phoenix Net points out that the oil rig was set up "to declare territorial rights and also for business exploration".
"Now that the purpose has been achieved, it is time to move away," it says.
Echoing similar sentiments, the Global Times' Chinese edition dismisses "speculation" that China took the decision due to pressure from the US.
"There is no doubt that the Chinese government stands firm over territorial issues. There is no room for compromise," it says, adding that since the exploratory work has been completed, the removal of the oil rig "can help Washington to save some face".
And finally, authorities have decided to curb the misuse of official vehicles in government offices to cut spending.
According to new guidelines released on Wednesday, the central government will "scrap the supply of vehicles for use in regular government affairs, while keeping those for special services such as law enforcement and emergencies", Xinhua reports.
Welcoming the decision, the Beijing Youth Daily describes the abuse of government cars as "wheel corruption".
"The image and credibility of government departments gets affected when some officials use government cars to satisfy their own luxurious needs," it notes.