Wen says We'll do whatever it takes to fight crisis

The global financial crisis has not yet hit the bottom, Premier¹ Wen Jiabao has warned, promising² that the government is "ready to take firmer and stronger action whenever necessary".

During his first-ever online chat with the public on Saturday, Wen said, "The stimulus³ measures announced by the government have produced good results in certain areas".

For example, consecutive⁴ growth has been recorded in credit supply, with new loans standing⁵ around 440 billion yuan ($64 billion) in November, 770 billion yuan in December and 1.63 trillion yuan in January.

He also cited figures on stronger retail⁶ sales and the rebound⁷ of power generation and usage.

Consumption rose 18 percent year-on-year in January, while power generation in the February 11-20 period increased 15 percent year-on-year, or up 13.2 percent from the first 10 days of the month, he said.

"Some key indicators⁸ show the economic situation has taken a turn for the better," he said.

Wen said one indicator⁹ he watched closely was power generation - and from mid-February, power generation and consumption have both resumed growth.

But "we must fully¹⁰ realize we are facing a long-term and arduous¹¹ task… We must strengthen confidence in the face of the crisis and be ready to take firmer and stronger action when necessary".

The four stimulus measures announced are a 4-trillion-yuan economic stimulus and tax cuts, investment into 10 key industrial sectors¹³, technological¹⁴ upgrading, and the building of a comprehensive social security network.

The major impact of the global financial crisis is on the country's real economy instead of its financial sector¹², which is relatively¹⁵ stable and healthy, and capable of withstanding the crisis, he said.

The economy grew 9 percent year-on-year last year, the lowest since 2001.

Wen said the eastern coastal¹⁶ areas, where the economy is labor¹⁷ intensive and export-dependent, have been the hardest hit.

The fall in international market demand has left a huge number of migrant workers jobless, he said, adding he is deeply concerned about migrant workers, college graduates and urban families facing unemployment.

Questions:

1. How many times as Premier Wen Jiabao had online chats with the public?

2. By how many percent did consumption rise year-on-year in January?

3. What is Wen deeply concerned about?

Answers:

1. Once.

2. 18 percent.

3. Migrant workers, college graduates and urban families facing unemployment.