China Maps Out Major Economic Tasks for 2001

China will continue the pro-active fiscal policy and the stable monetary policy in 2001, focusing on expanding domestic demand, in a bid to consolidate and boost the momentum of economic development.

China's gross domestic product (GDP) growth rate is expected to stand at around 8 percent this year, reversing the downhill trend in the past few years, said Zeng Peiyan, minister in charge of the State Development Planning Commission, at a three-day national economic planning conference, which opened in Beijing Sunday, December 3.

Agricultural development and increasing farmers' income are high on the government agenda as major tasks in 2001, the minister said.

Major investment areas include bond-funded projects still under construction, agriculture, forestry, water conservancy, transportation, communications, urban infrastructure, environmental protection, power grids and grain reserve storage facilities.

The central government will also invest in economy housing, technological upgrading and hi-techs, as well as the strategy to develop the western areas, Zeng said.

All departments and localities should prepare themselves for China's entry into the World Trade Organization, be familiar with its rules, and be able to adapt to any changes, in a bid to make the most of the resources and markets both at home and abroad, the official said.

Central Conference Spells out 2001 Economic Work

The Central Economic Working Conference, which closed November 30, outlined China's economic work in 2001:

-- To strengthen the primary status of agriculture in the national economy and make efforts to increase farmers' incomes;

-- To make greater efforts to readjust and optimize industrial structures;

-- To further reform state-owned enterprises;

-- To further improve the social security system and expand employment opportunities;

-- To continue the proactive fiscal policy;

-- To continue the stable monetary policy and tighten supervision over banking institutions;

-- To promote the strategy of developing the western areas of China in a bid to seek balanced regional development;

-- To further China's opening-up to the outside world;

-- To boost scientific and technological progress and strengthen personnel training; and

-- To take substantial measures to improve management, and regulate and standardize market order.





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