Beijing Targets 9 Percent GDP Growth in 2003

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Last updated at: (Beijing Time) Tuesday, January 14, 2003

Beijing Targets 9 Percent GDP Growth in 2003

The Chinese capital Beijing is targeting a 9 percent growth in gross domestic product (GDP) this year, a senior local official said in the city Tuesday.

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The Chinese capital Beijing is targeting a 9 percent growth in gross domestic product (GDP) this year, a senior local official said in the city Tuesday.

Briefing the ongoing session of the Beijing Municipal People's Congress, the local legislature, Shen Baochang, director of the city development planning commission, said that the municipal government also planned to create 200,000 new jobs to keep the registered urban unemployment rate below 2.5 percent.

In 2003, Beijing was also expecting an around 15 percent growthin local fiscal revenues, an over 13 percent expansion in social fixed assets investment, an over 10 percent rise in social consumer commodities' retail rates and a 10 percent foreign exportincrease, Shen added.

If all those economic targets were attained, the per capita disposable income for urban residents and per capita net income for rural residents in the Beijing area would achieve an actual growth of over 6 percent, said the director.

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