Chinese vice-premier calls for balanced economic, social development

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Last updated at: (Beijing Time) Wednesday, December 03, 2003

Chinese vice-premier calls for balanced economic, social development

China is to pursue a balanced, sustainable development of its society and economy by improving macro-economic management and deepening reform, Chinese Vice-Premier Zeng Peiyan said here Tuesday.

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China is to pursue a balanced, sustainable development of its society and economy by improving macro-economic management and deepening reform, Chinese Vice-Premier Zeng Peiyan said here Tuesday.

Zeng make the remark at a national reform and development meeting that concluded Tuesday. He said the government would pay close attention to the balance between rural and urban development,the balance of development among various areas of the country, thebalance between social and economic development, the harmony between people and nature and the balance between the expansion ofthe domestic market and opening to the outside world. The Chinese government should seize the current strategic opportunity to encourage all sectors to help develop the economy.

He said in order to maintain the growth momentum, the government should strengthen and improve macro-economic managementas it allowed market forces to play their due role. He stressed the necessity of maintaining the coherence and stability of macro-economic policies and applying control with appropriate force, focus and orientation.

He said the country would step up efforts to restructure the economy. The government would use a combination of economic and legal means to curb the trend of irrational investment and expansion in certain industries. To this end, the government wouldguide the development of industry with planning and policies and adopt strict standards on market access, credit, land use and environmental protection. The government would coordinate the implementation of planning, fiscal and monetary policies to achieve maximum effect.

Zeng said the country would devote greater efforts to ease the strains on economic growth, including energy, water resources, electricity, coal and transportation. The government would continue to increase investment in agriculture so as to improve the capacity of grain production.

He said the government would strengthen guidance on private investment, directing the investment to such areas as upgrading oftraditional industries, developing the agricultural, high-tech, equipment manufacturing and service industries.

Zeng said the government would concentrate on improving economic returns of investment in the use of land, energy, water and raw materials. He said the country should change the mode of growth by lowering the costs of economic growth. The country wouldprotect cultivated land and improve the efficiency of land use.

Zeng said development and reform authorities should carry out reforms of the investment system, the distribution system of grainand monopoly industries. In order to guarantee smooth process of the reforms, the country must take a good care of the relations among reform, development and stability, he said.

Zeng pointed out that the country should adhere to the scientific concept of people-oriented, balanced and sustainable development. He said the country should gradually overcome the gapbetween urban and rural areas, and promote the reciprocal stimulation of development among the eastern, central and western parts of the country. Zeng said the country should balance social and economic development and promote the comprehensive developmentof individuals and social progress. He said the country should reach harmony between human beings and nature to maintain the balance between social and economic development and protection of resources. He said the country should balance the development of domestic growth and opening to the outside world, better utilize the domestic and international market and tap into resources both at home and abroad. He said the government would draft a development plan for the period of 2006-2010 in accordance with the above guidelines. The aim of the plan was to realize rapid, sustained, balanced and healthy economic growth and balanced progress.

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