President Hu Jintao said China will maintain the momentum of stable and fast economic growth as it takes measures to avoid overheating.

 

China's economic growth rate reached 10.7 percent in 2006, the fourth year in a row that the country's GDP growth rate exceeded 10 percent. Meanwhile, the consumer price index rose by 1.5 percent, about 0.3 percentage points lower than 2005.

 

So far "there is no significant inflation," said Hu in a joint interview with Russian media on Tuesday ahead of his Russia visit, which last from March 26 to 28.

 

Facing the problems like excessively high investment growth rate, excessive growth of credit, China had enhanced macro adjustment and control, and taken measures to curb land supply, restrain bank lending and boost consumption, among others, to prevent the economy from potential overheating, said Hu.

 

"A comprehensive assessment of various factors shows that it is fully possible for China's economy to maintain the momentum of stable and fast growth," Hu said.

 

Hu said China will try improving the quality and efficiency of economic growth in the coming years.

 

China will also work on energy saving, emission reduction and environmental protection, increasing farmer's income and promoting social justice and fairness, Hu added.

 

(Xinhua News Agency March 26, 2007)