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China's renowned economist Wu Jinglian said the 7-percent economic
growth target set for this year by Premier Zhu Rongji is sure to be
attained, and he personally held the growth rate could be higher.
"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)
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