in the service secto爱上海女神会所r, and deregulate the services for the elderly and children, and medical care and education.
Although its overall economic uncertainty has increased, China’s economy still has great pote
ntial in terms of service and consumption, especially because it is a market of more than 1.3 bil
lion people including a middle-income group of 400 million all of whom are seeking a better life.
Current policy package strong enough to counter headwinds, economist says
China has no immediate need of aggressive stimulus to support growth unless trade tensions with the United States m
ore visibly weigh on growth momentum, and greater patience and policy preparation are needed now for market-
oriented, longer-term reform and opening-up, a senior economist said in an exclusive interview.
Given the uncertainty from China-US trade friction, macroeconomic polic
ies should always be prepared to support the economy, especially if growth mome
he United States, may lead to weaker business confidence and slower
global trade growth, which is expected to weigh on investment and exports in 2020. But in the n
ear term, as China shows positive surprise in GDP growth in the first quarter, and the macroeconomic policies hav
e taken effects on stabilizing the growth, the GDP growth rate is likely to stay at 6.2 percent, the report said.
“In response to the growth moderation and less favorable external conditions, the government in
troduced a fiscal stimulus emphasizing tax incentives,” said Martin Raiser, World Bank Country director for China.
“While the central government has fiscal space to further increase spending, if necessary, the additional stimulus should be ap
propriately funded either directly at the central level or through additional fiscal transfers to the provinces. Highe
National Health Commission should monitor all gene-editing centers and IVF clinics in China to ensure trials are in line with regulations.
A national registry dedicated to clinical trials involving cell technologies should be established to pro
mote greater transparency, they said, so that before a trial begins scientists would need to pass an
ethics review and provide a list of names of all participating scientists and institutions.
Universities and research institutes should strengthen education and
training in bioethics and scientific and medical professionalism, covering research sci
entists and students of science, medicine and the humanities at all levels, they said.
In addition, more efforts should be undertaken to eliminate prejudice against people wi
th disabilities, which exists in the minds of some scholars, they said. Following the gene-edited baby incid
ent, government departments have vowed to improve supervision, and new regulations are being made or revised.