China aims at rapid, sustainable, sound growth in 2005
2005/03/08

BEIJING, March 6 (Xinhuanet) -- China targets a GDP growth rate ofaround 8 percent in 2005 to ensure rapid, sustainable and healthy economic growth, according to a report on China's development plan.

    The report on the implementation of the 2004 plan for national economic and social development and on the 2005 draft plan for national economic and social development, submitted for approval to the ongoing session of the National People's Congress, cited three main factors for setting forth such a target.

    First, the considerations of necessity. China needs to maintainrapid economic growth while optimizing the economic structure, improving economic returns and avoiding excessive demand on resources and the environment.

    "This is altogether essential in order to make the most of thisperiod full of vital strategic opportunities, increase our overallnational strength and realize the objective of building a moderately prosperous society in all respects," says the report.

    This will also help create more jobs, promote reforms and maintain social stability, it says.

    Second, the considerations of possibility. Supplies of energy, raw and processed materials, and transportation capacity have increased significantly in the past two years, but tensions in thesupply of coal, electricity, petroleum and transportation remains obvious.

    "Because of the fairly large scale of Chinese economy and the crude manner of its economic growth, an excessively-high growth rate can exert a too much pressure on resource supply and environmental protection efforts and economic operations will be stretched even tauter, increasing the severity of our problems," says the report.

    Third, the considerations related to macroregulation. An appropriate growth rate will guide everyone to focus on making structural adjustments, deepening reforms and changing the patternof economic growth in line with a scientific outlook on development, while repressing the tendency to recklessly compete for the highest growth rate, says the report.

    Moreover, it says, the target of around 8 percent is for China's overall economic growth. Local authorities should set corresponding appropriate targets based on local conditions. Enditem

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