Cushioning global financial turbulence impact

The grid, one of the hubs in domestic demand expansion chain, connects reconstruction at one end, and its own material, equipment suppliers and employment at the other.

It helps suppliers cope with the effects of the global financial crisis.

Yang Fujun, a technical expert, landed a job in TBEA Deyang Cable Company Limited in Sichuan in October after quitting his jobin an electric cable company in Ningbo, a coastal city in Zhejiang Province, east China.

As the financial crisis deals a blow to the business of his previous employer, Yang finds that TBEA in Deyang, a manufacturer and exporter of cables, offers a better opportunity in reconstruction.

"I'm moving from the east to the west and from a smaller business to a bigger one," said 39-year-old Yang. "The prospects appear promising here."

As Du Xiaobo, director of Deyang Electric Power Bureau, put it, the expansion of the grid had a huge effect on its suppliers, including TBEA.

"When our exports drop because of the financial crisis, we are more domestic-oriented," said Yu Baiyi, general manager of TBEA Deyang Cable Company Limited. "TBEA supplies products to the grid."

On November 12, the central government announced several steps, including approval of infrastructure projects and a further rise in export rebates, in a wide-ranging attempt to stimulate the economy and ease the impact of the global financial crisis.

On the reconstruction site of the hydropower station in Yingxiu, where Guo Zhengrong is doing her welding work, migrant worker Wang Zuoyou found his new employment.

Wang and his team of masons, from the Dujiangyan county, are working on the hydropower station's buildings. He earns a daily wage of 150 yuan, 30 yuan more than that he earned on his previous job.

"We can find a job without moving far from home," said Wang. "In some cases, we can even choose our employers.

"When more jobs are available, we have a better opportunity to make money," he said.

(Xinhua News Agency November 27, 2008)