China's economic growth this year should come in at between seven and eight percent as the government looks to maintain economic growth by raising incomes and stimulating consumption, officials said Wednesday.
"In the coming new year, we will continue to carry out a proactive fiscal policy and a robust monetary policy, widely enhancing fiscal supports," Zhu Zhixin, commissioner of the National Statistics Bureau said.
"As far as I know the growth will not be lower than the previous year," he said.
China's economy grew by 8.2 percent in the first three quarters of 2000 but slumped to a 7.3 year-on-year in the fourth quarter for a rise over the full year of eight percent.
"The main reason the GDP growth in the fourth quarter of 2000 was lower than 8.2 percent or roughly around seven percent, was because the base figure in 1999 was high," Zhu said.
To maintain a high growth rate this year, the government will continue to stimulate the economy through fiscal measures, while placing a priority on raising personal incomes and boosting consumption, he said.
"The bureau's growth target for 2001 will be between seven and eight percent," NSB vice commissioner Ye Zhen said.
(China Daily 02/28/2001)
