China's gross domestic product (GDP) is estimated to exceed 20
trillion yuan (about US$2.56 trillion) this year, up 10.5 percent
over 2005, said Ma Kai, minister of the?National Development
and Reform Commission (NDRC), on Saturday.
Addressing the national development and reform working
conference, Ma said that the country's economy has been developing
fast this year with good efficiency and low inflation. Stable
economic operation has benefited the people and will power future
development.
He said that the Chinese people have benefited well from the
steady and fast economic development. The NDRC projects that newly
increased job opportunities could pass 10.5 million for the whole
year, exceeding the 9 million planned figure at the beginning of
the year.
The per capita net income for farmers and urban residents is
expected to grow by 6 percent and 11 percent, respectively. The
consumer price index will rise by 1.3 percent.
In the first 11 months, the investment in fixed asset went up
26.6 percent year-on-year, with the growth rate down 4.7 percentage
points from the first half of the year. Newly increased loans in
September, October and November have also decreased by 125.2
billion yuan, 9.5 billion yuan and 31.5 billion yuan,
respectively.
However, he warned that the basis for economic development is
not solid enough, the GDP growth rate is still too fast, and the
cost is too much. "It's necessary to keep clear-headed," Ma
said.
Statistics from the National Bureau of Statistics showed that in
2005 China's GDP hit 18 trillion yuan.
The NDRC will continue to change the country's pattern of growth
from pursuing scale and output to stressing quality and efficiency
next year, by further reducing energy consumption and pollution,
said Ma.
China has planned to cut its energy consumption for unit GDP
from 1.22 tons of coal last year to 0.98 by 2010.
Meanwhile, Ma said the government will go on reining in
fixed-asset investment and boosting consumption, which was also
pledged at the 2006 Central Economic Work Conference.
The conference delegates proposed to boost the income levels and
consumption of rural people and the urban poor, calling for greater
attention to creating employment opportunities.
The allocation of public resources must bring people more direct
benefits, and problems involving people's immediate interests must
be carefully solved, said Ma.
"We should promote social justice and stability by letting the
people share the achievements of reforms," said Ma.
(Xinhua News Agency December 10, 2006)