China Predicts over 8 Percent Economic Growth Next YearChina published its annual economic blue paper Friday, November 24, predicting its economy will grow by 8.1 percent in 2001.The paper says that the country's gross domestic product will increase by eight percent this year. The paper was written by officials and experts from dozens of prestigious institutes, including the Chinese Academy of Social Sciences, the State Statistics Bureau, the State Economic and Trade Commission, the State Planning and Development Commission and the Development Research Center of the State Council. Published by the Social Sciences Document Publishing House, the paper is recognized as the most authoritative in analyzing and predicting the Chinese economy. The paper points out that the Chinese economy is growing much faster than that it did in 1999, and if the macro-control is well maintained, the economy will continue to grow at a fast rate in 2001. The paper attributes the economic achievements to several factors, including an active fiscal policy, increased investment and rebounding foreign trade. Some important issues are also discussed in the paper, including the reform of state enterprises and unemployment. For the first time the paper includes a chapter focusing on Taiwan's economy, noting that the island's economy was good in the first half of this year but there are still some pending problems. It also says that the Hong Kong economy is showing signs of a "strong recovery". |
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