Expanding Domestic Demand, Long-Term Strategy: Hu Jintao

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Last updated at: (Beijing Time) Thursday, December 12, 2002

Expanding Domestic Demand, Long-Term Strategy: Hu Jintao

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Hu Jintao, general secretary of the Communist Party of China (CPC) Central Committee, visited a photo exhibition on China's achievements made thanks to state treasury bonds Tuesday evening in Beijing.

The exhibition, titled "Score a new success in the modernization drive -- a photo exhibition on the achievements made thanks to state treasury bonds from 1998 to 2002", has been stagedin the Museum of the Chinese Revolution in Beijing since December 1.

During his visit, Hu showed tremendous interest in the pictures and graphics on display and often asked the guide for more details.

"I'm really pleased to see this exhibition, which has vividly displayed the great achievements our country has made since 1998 through the issuance of state treasury bonds," said Hu.

"This exhibition indicates that the policy of expanding domestic demand and a series of other major policies adopted by the central authorities are in line with our country's real situation and also in the fundamental interests of all ethnic groups across the country," he added.

Calling expanding domestic demand "a long-term strategy" for China's economic development, the general secretary said the policy must be adhered to and constantly improved, adding that more efforts should be made to strengthen the management of funds collected through bond issuance and raise the efficiency of capital usage.

Wu Bangguo, Jia Qinglin and Zeng Qinghong, all members of the Standing Committee of the Political Bureau of the CPC Central Committee, also visited the exhibition Tuesday.

Statistics show that since 1998, the Chinese government has issued a total of 660 billion yuan (79.5 billion US dollars) of long-term state treasury bonds and used the funds in thousands of construction projects aimed at increasing domestic consumption and investment as well as promoting industrial restructuring.

The photo exhibition features over 1,000 pictures and graphics.

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