- Maintaining an active fiscal policy, restructuring the economy, and developing western China will receive top priority in the Chinese government's plan for economic work in the coming year.

The Central Economic Working Conference which concluded today set five top tasks for year 2000.

First, the government will continue to carry out an active fiscal policy by issuing additional treasury bonds. The major part of government investment will continue to be directed to infrastructure and technological upgrading.

At the same time, a growing money supply will give fiscal policy a larger role in promoting economic growth. On the other hand, the country will improve the regulation of the capital market and take stricter measures to safeguard financial security and minimize risks.

The government will also try to jump-start the consumption of housing and education so as to invigorate these markets.

Second, the government will take economic restructuring as the focal point of its work for next year, and longer.

In adjusting industrial structures, China will consolidate primary industry, enhance the secondary industry, and expand tertiary industry.

Development of western China will receive strategic priority as the government channels more funds, technology and talent to the region. Key measures for this include infrastructure development, afforestation, and the advance of science, technology and education. Large areas of cultivated land in the region will be turned back to forests, step by step, while crop mixtures will be overhauled.

The government will also continue to promote the development of towns and townships in rural areas.

Third, the government will try to accelerate scientific and technological advancement and improve the country's ability to innovate. It will continue to increase investment in research and development and push for the establishment of a venture investment system.

Fourth, as the top priority, the government will strive to reach the target of a three-year drive to reform state-owned enterprises (SOEs). Regarding the crucial meaning of the reform of the SOEs, the government expressed determination to achieve success in this three-year campaign. It will grasp the central link of SOE reform by pushing forward reform of the financial, circulation, science and technology, education, housing and social security sectors.

Fifth, the government will continue to improve the people's living standards by raising the income of urban and rural residents, especially low-income people. It will try every possible means to improve the income of farmers and provide care for low-income urban residents by establishing and perfecting the social security system. (Xinhua)

Wrap-up: China Sets Target for Next Year's Economic Work (2)

Efforts should be made to further stabilize agriculture as the foundation of the national economy, readjust agricultural and rural economic structures, and try every means to increase farmers ' income, according to the conference.

It stressed that the reform of SOEs should be put at the core of economic work in an attempt to turn losses into profits and actively promote the establishment of a modern corporate system.

China will continue to implement pro-active fiscal policies, give further play to the role of monetary policies, and use taxation, pricing and other macroeconomic control measures in a comprehensive way to reinforce infrastructure construction, technological upgrading, scientific and technological innovation, and make efforts to expand consumption, the conference said.

Efforts should also be made to further open to the outside world, actively increase exports and imports, and improve the level of the use of overseas investment, it said.

The conference pointed out that the social security system should be improved, and attention paid to reinforcing poverty relief work and further improving people's lives.

The relationship between reform, development and stability should be correctly handled, it stressed, so as to ensure a sustained, fast and healthy development of the national economy, promote overall social advancement, and meet the new century with outstanding achievements.

The conference said that the government's economic policies have been sound and effective in 1999, citing as proof good harvests, rapid industrial growth, the rebound of exports, and a stable society.

However, the economy still suffers from insufficient domestic demand, high employment pressure, the slow rise of farmers' income, and an unreasonable economic structure. (more)

Nearly 80 Billion Dollars Spent to Improve China's Highway Network

BEIJING, November 17 (Xinhua) -- China has so far injected nearly 80 billion US dollars into highway construction projects now underway throughout the country, Vice Minister of Communications Li Juchang said today.

He said that in 1999 alone, the country has invested 180 billion yuan (some 22 billion US dollars) on highways, and more than 22,980 kilometers of trunk roads are being built.

By the end of this year, China's total length of highway open to traffic will reach 1.3 million kilometers, the official said, adding that this means more remote towns and villages will have access to better roads.

"All the projects are proceeding rapidly and we are also making great efforts to improve the quality of highway construction," he said.

Expressways are a major part of the current construction plan. By the end of 2010, seven expressways will run from the east to the west, and five expressways will link the country's south and north areas, he said.

So far, China has more than 10,000 kilometers of expressway that have opened to traffic, ranking the fourth in the world in terms of length. (Xinhua)