China Confident in Its Fast Economic Growth

China is confident in solving the problems in its economic operations and maintaining rapid growth for a considerably long period of time, a senior official said on Friday.

Speaking at a seminar for postgraduates on development in the new century, Zeng Peiyan, ministers in charge of the State Development Planning Commission, pointed that the most important thing in keeping the economic growth momentum is to ensure political and social stability in China.

Zeng said that China has huge market potential. Readjusting the country's industrial structure and spurring consumption will contribute greatly to economic growth.

China's expected entry into the World Trade Organization will help the country to make better use of both domestic and overseas resources to promote economic growth.

As for the problems, Zeng said they mainly include a lack of real demand, the slowdown in the increase of fixed asset investment, irrational economic structure, difficulties in some state-owned enterprises, increasing employment pressure and the slow increase of farmers' income.

To solve these problems, great efforts are needed to improve the quality and efficiency of China's economy, speed up economic restructuring, develop the western regions, promote urbanization, pay more attention to education and science, and adhere to the strategy of sustainable socioeconomic development.


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