Wen Jiabao

Stability key to prosperity

PUBLISHED : Friday, 16 March, 2012, 12:00am
UPDATED : Friday, 16 March, 2012, 12:00am


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During the annual session of the National People's Congress, Premier Wen Jiabao announced that the mainland's gross domestic product growth target this year would be 7.5 per cent, the first time in eight years that the figure is below 8 per cent. His two priorities are to achieve stable growth and steady prices. Although many people are concerned about slower growth, it is in fact a sensible and prudent policy to ensure the country's sustainable economic advancement under uncertain international financial conditions.

On Hong Kong, Wen said Beijing would fully support the city's economic development and its handling of global economic challenges, while the mainland would further open up its service trade. Wen said Beijing supported Hong Kong's development of offshore renminbi business.

The mainland's continued prosperity is key to Hong Kong's markets. After months of inertia, the city's property market seems to be picking up and, in our cover story, we look into the reasons why. Finally, our special report looks at Sai Kung, a place ideal for those looking for a bit of peace and quiet after a long day.