China's 1999 Plan and Targets Basically Attained

Zeng Peiyan, minister in charge of the State Development Planning Commission, said March 6 that the 1999 plan was carried out satisfactorily and the major regulatory targets for national economic and social development were basically attained.

Zeng made the remark at the Third Session of the Ninth National People's Congress on March 6 in his report on the Implementation of the 1999 Plan for National Economic and Social Development and on the Draft 2000 Plan for National Economic and Social Development.

The minister listed the achievements scored in the past year as the following:

-- The national economy continued to show good momentum of development, and there were improvements in the quality of growth and performance of the economy. In 1999 the country's GDP hit 8. 2054 trillion yuan, representing an increase of 7.1 percent over the previous year.

-- The investment pattern continued to improve and there was better quality in construction projects. Total fixed asset investment for 1999 reached 2.9876 trillion yuan, an increase of 5. 2 percent over the previous year.

-- National revenue and expenditures grew rapidly and the financial situation remained stable. National revenue for 1999 excluding revenue generated through debt) totaled 1.1377 trillion yuan, a rise of 15.2 percent over the previous year. Expenditures for the country (excluding debt repayment) totaled 1.3136 trillion yuan, up 21.7 percent. Expenditures exceeded revenue by 175.9 billion yuan, with a deficit of 179.7 billion yuan for the central budget.

-- Marked progress was made in reforming state-owned enterprises and turning around the operation of loss-making enterprises, and all other major reforms continue to be deepened.

-- Imports and exports grew fairly rapidly and there was continued improvement in the utilization of foreign funds.

-- Development of science, technology and education was speeded up and all social undertakings made comprehensive progress.

-- Market sales began to pick up and people's living standards continued to improve.

Zeng Peiyan said that all these great achievements have shown that the Central Committee of the Communist Party of China (CPC) with Jiang Zemin at its core is fully capable of dealing with all types of complicated situations, keep the overall situation under control and lead the people of all ethnic groups in a united struggle to blaze new trails, score more achievements and bring about sustained, rapid and sound development of the national economy.

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