Quotable

"The government should stop investments, loans and preferential policies for land and taxes for industries with overcapacity."

Miao Changxing, deputy director of the industrial policy division of the Ministry of Industry and Information Technology, saying that overcapacity is a challenge that China must tackle to improve its industrial performance and sustainability. Since the 4 trillion yuan stimulus package launched by the government in 2008, the country's heavy industry has seen significant funding, which has caused significant overcapacity in the iron and steel, photovoltaic and calcium carbide industries.

"Economic ties between the two countries have great prospects. They're not yet at the point we wish them to be, but we'll work on it."

Vassilios Costis, the Greek ambassador to China, saying China will probably top the list of foreign investors in Greece in two to three years while the expected launch of direct flights between Beijing and Athens will boost tourism. The two countries have agreed to double the size of trade by 2015 as the European Union member nation is gradually coming out of its debt crisis.

"The upward pressure for inflation next year will be a bit higher than this year, and next year's high point could be more than 3.2 percent."

Tang Jianwei, a senior researcher with the financial research center of the Bank of Communications, saying that China's CPI has entered an upward cycle that could last for two years. He said the highest point in this cycle could occur next year.

(China Daily Africa Weekly 12/06/2013 page18)