Home>News Center>China
       
 

Wen lowers 2005 economic growth target
By Liu Weiling (China Daily)
Updated: 2005-03-06 01:48

The nation will target slower economic growth of 8 per cent this year amid continued efforts to rein in the economy, Premier Wen Jiabao said yesterday.


Premier Wen Jiabao delivers his government work report at the third session of the 10th National People's Congress in the Great Hall of the People in Beijing March 5, 2005. [Xinhua]
The projected growth rate is 1.5 percentage points lower than the 2004 rate, but higher than the 7 per cent forecast issued in the past few years.

Wen made the projection while delivering the annual work report of the State Council to more than 2,900 deputies at the opening ceremony of the third plenum of the 10th National People's Congress at the Great Hall of the People.

Wen's report reviewed the work of the central government last year and outlined a development blueprint for this year.

President Hu Jintao, NPC Standing Committee Chairman Wu Bangguo and almost all top Chinese leaders attended the meeting of the country's top law-making body.

Both officials and observers believe that a relatively high growth rate is needed for China which is facing strategic opportunities as well as tough challenges, in particular the intense pressure on employment - 9 million more jobs have to be created this year to confine the registered urban unemployment rate to 4.6 per cent.

"The economy should grow rapidly, but not be allowed to overheat," Wen told the session.

In setting the target for this year's economic growth, the government took into consideration both what is necessary and what is feasible, as well as what will be needed to meet employment, price and other targets, he added.

A report submitted by Minister Ma Kai of the National Development and Reform Commission (NDRC) noted that rapid economic growth will help create more jobs, promote reforms and maintain social stability.

However, if the growth rate is excessively high, there will be more pressure on resource supply and environmental-protection efforts, and economic operations will be stretched even tauter.

Local flexibility

Both Wen and Ma stressed the targets are only guidelines and can be adjusted to suit economic conditions.

"Localities should set their own targets in line with ground realities and focus on improving the quality and efficiency of economic growth," Wen said.


The third session of the 10th National People's Congress opens in the Great Hall of the People in Beijing March 5, 2005. Premier Wen Jiabao delivers the government work report. [Xinhua]
Both government officials and entrepreneurs expressed confidence the target would be met.

"We have the conditions to maintain stable growth. The overall economic situation is quite good ..." said Guo Shuqing, vice-governor of the People's Bank of China, the central bank. "The growth rate won't be lower than 8 per cent."

Qin Xiao, chairman of China Merchants Group and member of the Chinese People's Political Consultative Conference (CPPCC), said: "We will see stable growth this year with no major fluctuations. It is very possible that growth exceeds the 8 per cent target."

However, Wu Jinglian, a renowned economist and also a CPPCC member, told China Daily that the quality of growth is the key.

"What's more important is that we should achieve growth through improving efficiency, rather than relying on investment."

To this end, curbing soaring investment is a priority for the central government which vowed to strengthen and improve macro controls. After seven years of proactive fiscal policy, prudent fiscal and monetary policies will be implemented this year.

A cut in the budget deficit and a reduction in new long-term treasury bonds were announced yesterday by the Ministry of Finance in a written report to the NPC.

The deficit in the central budget for 2005 will be contained to 300 billion yuan (US$36 billion), 19.83 billion yuan (US$2.4 billion) less than last year. It will account for 2 per cent of gross domestic product, 0.5 percentage points less.



 
  Today's Top News     Top China News
 

FM calls for US, N.Korea flexibility in nuclear talks

 

   
 

Wen lowers 2005 economic growth target

 

   
 

Hu's vision for cross-Straits ties hailed

 

   
 

Agricultural tax to be scrapped from 2006

 

   
 

Dollar decline won't lead to forex sale

 

   
 

Liu Xiang wants more time and privacy

 

   
  China opposes foreign intervention in Taiwan issue
   
  Premier Wen meets HKSAR chief executive
   
  Hu's vision for cross-Straits ties hailed
   
  Dollar decline won't lead to forex sale
   
  Wen lowers 2005 economic growth target
   
  Free education for 14 million poor students
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
Premier Wen pledges more help for the poor
   
China proposes prudent fiscal policy for 2005
   
Wen reiterates longing for harmonious society
   
China targets 8% growth for 2005
   
China vows to keep yuan basically stable
   
China scraps agricultural taxes in 2006
   
Task to trim 200,000 troops to be finished this year
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 一区二区精品在线观看| 亚洲午夜精品久久久久久浪潮| 色狠狠狠狠综合影视| 国产精品亚洲成在人线| 亚洲综合激情另类小说区| 色久综合网精品一区二区| 国产无遮挡无码视频免费软件| 777精品成人影院| 天堂网在线观看| 丝袜交kingfootjob| 日本18xxx| 久久婷婷激情综合色综合俺也去| 欧美不卡一区二区三区| 亚洲欧美精品午睡沙发| 狠狠噜狠狠狠狠丁香五月| 全免费a级毛片免费看| 美女18隐私羞羞视频网站| 国产三级在线观看完整版| 黑人巨大精品欧美一区二区免费| 国产精品亚洲精品日韩已方| 91丨九色丨蝌蚪3p| 在线观看你懂得| www.午夜视频| 好男人视频网站| 一本大道香蕉大无线视频| 成年人性生活免费视频| 中日韩精品无码一区二区三区| 日本高清乱理伦片中文字幕啊| 亚洲AV日韩精品久久久久久A| 欧美午夜在线视频| 亚洲女初尝黑人巨高清| 欧美特黄录像播放| 亚洲精品欧美精品日韩精品| 狂野小农民在线播放观看| 伊人久久精品亚洲午夜| 看全色黄大色黄大片大学生| 免费观看欧美一级牲片一| 精品免费视频一卡2卡三卡4卡不卡| 又粗又大又爽又紧免费视频| 美妇乱人伦交换小说| 国产111111在线观看|