CPPCC Committee Members Discuss whether to Issue Consumer Coupons or not

During the second plenary session of Guangdong's 10th CPPCC Committee today (Feb 11th) , quite a few members suggested that the Pearl River Delta should issue consumer coupons in order to boost consumption. They believe that the amount given should not be lower than the lowest salary of some specific areas. Only one day before the CPPCC opened, the nation's Ministry of Commerce indicated that consumer coupons is a feasible idea. Chen Gangjun, another commitee member who is in favor of this policy, suggested that the range of the issue should be strictly defined, he said:
 Consumer coupons should be directed mainly at people who get the lowest income, especially those who are disadvantaged/underprivileged. It makes no sense if those who are highly-paid receive these coupons as well 
However, statistics have shown that Guangdong's retail sales have seen a considerable rise recently, estimated at around 20.4% and therefore some doubt the tangible effect coupons would have on stimulating consumption.

No Quick Cuts in Savings Rates
China's central bank governor, Zhou Xiaochuan, said yesterday (Feb 10th) that China will not be able to reduce its savings rate quickly and that changes in the exchange rate would not necessarily reduce it either. Zhou said that China has made relentless efforts to cut its savings rate, but it will not work in the short term as it is the result of deep-rooted social and cultural factors. Zhou also called for reforming the international currency regime, making it more diversified and less dependent on the US dollar.

Experts Gather in Guangzhou to Discuss Atmospheric Scheme for Asian Games

Yesterday (Feb 11th), experts on atmospheric environment gathered in Guangzhou to discuss a scheme to garantee good air quality for the upcoming 2010 Asian Games. Experts suggested several measures, including to expand the scale and speed of the industrial transformation and to reduce carbone dioxyde pollution caused by vehicles. This scheme is expected to be thoroughly studied until August and then to be carried out at the beginning of 2010.
 
Shanghai Composite Index Drops under 2230 Points

 Today (Feb 11th), the Shanghai Composite Index opened low at 2230 points, down 1.53% from yesterday (Feb 10th), but managed to limited the damage in the afternoon, closing at 2260 points, down only 0.19 %. The Shenzhen Component Index also opened low at 8119 points, down 1.76% but suceeded in closing up 0.29% at 8289 points.