China's Leaders Want To Slow Their Heated Economy China will not see a double dip in its economy this year, according to one Chinese official. He was speaking after a new vision was announced for the world's second biggest economy. But can the government make it happen?
NPR logo

China's Leaders Want To Slow Their Heated Economy

  • Download
  • <iframe src="https://www.npr.org/player/embed/134354326/134354343" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
China's Leaders Want To Slow Their Heated Economy

China's Leaders Want To Slow Their Heated Economy

China's Leaders Want To Slow Their Heated Economy

  • Download
  • <iframe src="https://www.npr.org/player/embed/134354326/134354343" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

China will not see a double dip in its economy this year, according to one Chinese official. He was speaking after a new vision was announced for the world's second biggest economy. But can the government make it happen?

ARI SHAPIRO, Host:

NPR's Louisa Lim reports from Beijing on how difficult that could be.

(SOUNDBITE OF MUSIC)

LOUISA LIM: China's government's new economic growth target is seven percent a year, way down from the past five sizzling years, which averaged 11.2 percent annual growth.

ZHANG PING: (Foreign language spoken)

LIM: China Merchants Bank chairman, Ma Weihua, spelled out his doubts to NPR.

MA WEIHUA: (Foreign language spoken) (Through Translator) Local governments want fast development to increase their revenues and improve peoples' lives. But nationally, over-fast development could harm stable development and increase inflation.

LIM: Chen Xitao from Anhui province is typical.

CHEN XITAO: (Foreign language spoken) (Through Translator) The report just states a goal. I should say that our province is less developed. Our growth will definitely be faster than seven percent.

LIM: Louisa Lim, NPR News, Beijing.

Copyright © 2011 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.