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Home >> China
UPDATED: 08:10, January 16, 2006
Beijing sets major economic targets for next five years
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Beijing has set a target to achieve an annual average growth rate of nine percent in gross domestic product (GDP) in the next five years, Mayor Wang Qishan said in Beijing Sunday.

Local revenue income would grow by 12 percent annually and the per capita disposable incomes for urbanites and farmers would both rise by six percent year on year in the next five-year period, Wang said in his report on the program of Beijing's economic and social development in the 2006-2010 period, which was delivered at the on-going 4th meeting of the 12th Beijing Municipal People's Congress.

According to the program, the per capita net income for farmers will reach 10,000 yuan (about 1,200 US dollars) by 2010.

Wang said, Beijing would work hard to keep its unemployment rate within 3.5 percent in the next five-year period, and would reduce consumption of energy resources for per 10,000 yuan (about 1,200 U.S. dollars) of GDP by 15 percent and consumption of water by 20 percent.

These targets were set on the basis of Beijing's practical conditions and development trend and could be achieved through hard work, Wang said.

A recently-published economic census shows that Beijing's GDP totaled 606 billion yuan (about 75 billion U.S. dollars) in 2004, with per capita GDP being close to 5,000 U.S. dollars.

Source: Xinhua

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