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UPDATED: 17:01, December 06, 2004
China maps out key economic policies for year 2005
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Photo:Chinese President Hu Jintao addresses during a central economic conference in Beijing Dec. 3, 2004. The three-day annual conference closed Sunday.
Chinese President Hu Jintao addresses during a central economic conference in Beijing Dec. 3, 2004. The three-day annual conference closed Sunday.
The Chinese government announced Sunday, Dec.5, that it will continue to put macro-economic control on top of the agenda for next year's plan in order to maintain a steady and comparatively fast economic development and basically stable prices.

The annual central economic conference, which concluded in Beijing Sunday, has clarified requirements and an overall arrangement for China's economic work in 2005, based on an summery of the economic performance this year.

The conference, held from Dec. 3 to 5, is attended by all nine members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee. President Hu Jintao and Premier Wen Jiabao both delivered important speeches at the conference.

General goal

China will continue its efforts to implement the scientific viewpoint of development and to consolidate achievements resulted from the government's macro-economic control policy next year.

The year 2005 very crucial, as it is the last year for the country's 10th Five-Year Plan in economic development and the performance in 2005 will be related directly to the development of the next five-year plan.>>>

Six major tasks

1. China will carry out a prudent fiscal and monetary policy and continue to strengthen and improve the macro-control in 2005. >>>

2. China will give more support to quicken the pace of the development of agricultural production and rural areas and improve the income of farmers next year in a bid to maintain the good development momentum of the rural economy. >>>

3. The conference has called resolute measures to put an end to the current economic development mode characterized by high consumption of energy and resources, heavy pollution and low economic returns, and strive for a complete transformation of the economic growth mode. >>>

4. The conference stresses the importance of promoting economic system reform and establishing systematic insurance for a coordinated sustainable development. >>>

5. China is to open its door wider to the outside world by speeding up transformation of the mode of foreign trade and looking for more means of foreign trade and more overseas markets. >>>

6. China will focus on solving urgent problems of the vast masses of the people in a bid to build a harmonious society, according to a decision made by the central economic conference. >>>

Eight key points

On top of the agenda is to continue to strengthen and improve macro-economic control, correctly handle the degree and key points of the control, so as to maintain a steady and comparatively fast economic development and basically stable prices.

Work concerning rural areas, agriculture and farmers will also be reinforced, and efforts be made to raise the comprehensive production capacity of agriculture and promote the growth of grain output and farmers' income. >>>

Editorial: Scientific concept of development, an important guideline

An editorial carried by People's Daily says the scientific concept of development, an important theory of the Communist Party of China, is an important guideline thought that must be adhered to in the whole process of China's efforts to build a well-off society in an all-round way and China's modernization drive. >>>

Commentary: Meeting highlights 'fiscal prudence'

A commentary by China Daily says that the "prudent fiscal policies" the weekend meeting has agreed for 2005 and beyond reflect what had been proven to be correct in our own practice. Judging from the current achievements of the new round of macro-control efforts, we believe our policy-makers have made a choice that will prove sensible and timely. >>>

Expectations and challenges for China's economy next year

China has good chances to make progress in the following five aspects to maintain healthy and sustainable growth of its growth next year, according to Chen Dongqi, Vice President of Academy of Macroeconomic Research under the State Development and Reform Commission. >>>

By People's Daily Online

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