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A government-backed think tank is predicting first quarter gross domestic product growth to fall to 6.85 percent Cheap Jordan 4 , as a vice-finance minister said this year could be the "most challenging" economic environment since the global financial crisis in 2008.

A report by the National Academy of Economic Strategy, under the Chinese Academy of Social Sciences, said GDP growth will slip from the fourth quarter's 7.3 percent and the key inflation gauge, the consumer price index, will rise 1.2 percent year-on-year in the first quarter.

If its prediction proves right, it would be the second-worst quarterly performance since the first quarter of 2009, when growth plunged to 6.1 percent in the aftermath of the global financial crisis.

Using a set of monthly data released by the National Bureau of Statistics Cheap Jordan 1 , Bloomberg has calculated that monthly GDP growth in January slowed to 6.85 percent and 6.28 percent in February.

Wang Hongju, a CASS researcher, said, however, that China has "ample ammunition" to deal with downward economic pressure in the second quarter, including reserve requirement ratio cuts, loan-deposit ratio adjustments and infrastructure spending.

The new CASS figures came as vice-minister of finance Zhu Guangyao said over the weekend that he considered the current international economic environment as the most challenging since the global financial crisis.

He told the China Development Forum that under current conditions the country should adopt a "proactive fiscal policy" while maintaining a prudent monetary policy that is "neither too loose nor too tight".

The government has expressed its willingness to allow its biggest ever budget deficit in 2015 since 2008 to support spending. The Ministry of Finance has also announced that local governments will be able to swap 1 trillion yuan ($161.2 billion) of maturing Cheap Jordan 13 , high-interest local debt for new official municipal or provincial bonds, to help ease their repayment burden.

Zhu said the swap arrangements would allow China to rein in possible risks from short-term local government bonds.

But the authorities, he emphasized, must prevent the problem of "moral hazard", without elaborating further, referring to an economic situation in which one party takes more risk because someone else is likely to bear the burden of that risk.

The ministry's priorities this year, he said Cheap Jordan 12 , include structural tax cuts, especially unnecessary fees imposed on micro and small firms, and spending previously idle government funds.

He also said the government should reflect the massive stimulus policies adopted a few years ago. These policies are believed to be causes of the current economic woes.

Cai Hongbin, dean of Guanghua School of Management at Peking University, said despite ongoing challenges, the government - compared with some Western counterparts - has a "much more powerful" toolbox at its disposal to stabilize the economy.

However, he warned that China also has weaknesses in its "market mechanisms" too Cheap Jordan 11 , for example an inflexible labor market and an inefficient financial market. "That's what the government has to fix, and the willingness to fix these shortfalls will determine business confidence and whether the investment environment recovers," he said.

BEIJING, June 28 (Xinhua) -- Ask Shao Dongke what it means to be a member of the Communist Party of China (CPC), and he tells a story, not of famous revolutionaries, but of Liu Fang Cheap Jordan Retro , his late grandmother.

Indifferent to fame or fortune, Liu cared deeply for those in need, Shao recalled. The former primary school teacher devoted half her life to special education.

"She was just an ordinary Party member, but she was a role model to me," he says, "One day I want to be like her."

Shao, 30 Cheap Air Jordan , joined the CPC in 2013 while he was at Tsinghua University. He is one of the newer members of the 88.8-million-strong party. The world's largest political party is accepting more and more young members as it nears its 96th anniversary on July 1.

About 15.5 percent, the largest share, of members are 30 years old or younger. Unlike the older generation who regard Party membership as a sign of devotion to China's revolution, young Chinese born since the beginning of the reform and opening-up era hold a different opinion of their political identity.

RESPONSIBILITY

Shao regards Party membership as "a responsibility," a word mentioned by many young Party members when asked.

After graduation last year, the doctoral graduate of Public Administration could have chosen to work in the city, but he decided to follow in his grandma's footsteps: To work for the needy.

Instead he left Beijing and took up a position as deputy county mayor of Ninghua Cheap Jordan Shoes , a remote, impoverished county in east China's Fujian Province.

"My skills are needed here, at the local level. It gives me an opportunity to utilize what I have learned to the maximum level," he says.

Ninghua is one of the four starting points of the "Long March," the 10,000-km historic trek of Chinese communists between 1934 and 1935. The historic setting has not only given Shao insight into the hardships endured by the Chinese Red Army, but also the current state of the underdeveloped local economy.

Shao wants to help families shake off poverty. The young deputy mayor is in charge of trade and tourism Cheap Jordans , so he is drafting proposals to bring fortune to the old revolutionary base through e-commerce and red tourism.

As a Party member, Shao said, he is guided by the Party's code of conduct, which encourages him to take concrete measures and to avoid empty talk.

HONOR

Starting from Ninghua, Red Army troops trekked to Yan'an City in northwest China's Shaanxi Province. This was where Gao Yu, 30, was born and grew up.

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