Trans-Century Blueprint to Be Mapped Out

Approximately 3,000 deputies to the National People's Congress (NPC), China's legislature, have converged upon the Chinese capital Thursday to confer on matters of vital importance concerning political, economic and social development in 2000, at the 3rd plenary session of the Ninth NPC which is due to open on March 5.

Though a routine annual meeting, it is held in the year that happens to be the last year when the central government formerly promised to rejuvenate the ailing state-owned enterprises (SOE),

basically wipe out poverty, and fulfill the goals of the Ninth Five-Year Plan (1996-2000).

Meanwhile, it is the year, in which China has sped up the pace for entering the World Trade Organization (WTO) and initiated the strategy to develop its western areas.

Analysts predict that reform of SOEs will be a major topic at the coming conference as in early 1998, then newly-elected Premier Zhu Rongji had pledged to bring most of the large and medium-sized SOEs out of difficulty in three years' time and adopt the modern enterprise system.

Statistics available show that SOEs around China earned 96.7 billion yuan (11.65 billion US dollars) in net profit last year, up 77.7 percent over the previous year and an all-time high over the past five years. And SOEs in northeast China, the country's old industrial base, in particular, have improved long-term money-losing performance.

China will continue to implement the pro-active financial policy in a bid to expand domestic demand and boost economic growth. However, the central decision-making departments and NPC

deputies would rather prefer quality economic performance to quantitative growth.

China it will continue to implement the pro-active financial policy in a bid to expand domestic demand and boost economic growth. However, the central decision-making departments and NPC deputies would rather prefer quality economic performance to quantitative growth.

Another focus at the session will be how to accelerate the development of western regions, sources said, adding that the China Development Bank will grant 400 billion yuan (4.8 billion US

dollars) in loans for energy and railway construction projects in western China, whereas the Ministry of Communications promised to set aside 800 billion yuan (9.6 billion US dollars) to finance transportation construction items there.

Accession into the WTO will, in one way or another, affect the life of ordinary Chinese people. Nevertheless, government departments and people from all walks of life hold an unanimous

view that entry into the WTO will affect them negatively within a short period of time and that it will be beneficial on a long run.

Meanwhile, the draft Law on Legislation, the sole law presented to the impending meeting for examination and approval, has aroused wide attention from among deputies. Experts deem that the law will turn out to be a major step toward the country's political reform,as it is expected to facilitate the legal system to be required for building a socialist market economy and democracy.

Earlier, President Jiang Zemin said that the Communist Party of China (CPC) Central Committee has set forth ideas on strategic consideration for the Tenth Five-Year Plan (2001-2005). And the

coming meeting will map out China's enterprising and feasible blueprint for the new century.

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