"The growth rate could reach 8 percent if we do better and there are no big ups and downs in the international economic situation," Wu said over the weekend on the sidelines of the on-going annual sessions of the CPPCC and CPC.

Wu, a member of the Chinese People's Political Consultative Conference (CPPCC), the country's top advisory body, said though the consumption demand is still weak in China, enterprises, private firms in particular, are full of vitality and they will give a strong impetus to economic growth.

Last year's economic growth was 8 percent, beyond the expectations of many people, Wu said, because they failed to see the rising supply or the vitality of enterprises. The economist attributed China's outstanding performance in export amid worldwide recession mainly to the robust growth in the export by foreign-funded and private enterprises.

Another major reason for China's rapid economic growth over the last few years is the increase in investment demand after the government adopted a proactive fiscal policy and steady monetary policy since the Asian financial crisis, Wu said.

(Xinhua News Agency March 9, 2003)