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Shandong to Maintain Fast Development
Shandong Province in east China is set to maintain its fast speed of economic development in the next five years, according to the just-concluded fourth session of the ninth provincial People's Congress.
According to five-year development blueprint for 2001-2005, the province will strive to keep its annual GDP growth rate at nine percent to reach 1.315 trillion yuan (about 158 billion U.S. dollars) by the year 2005. The GDP per capita by then will increase to 14,100 yuan from the 9,580 yuan in 2000. The income of both urban and rural residents will be increased by six percent annually.
The province will continue to reform its state-owned enterprises, and will increase the proportion of the non-state sector to over 40 percent of its GDP.
Education and science and technology will continue to play a key role in the province's development, and the life expectancy of local residents is expected to rise to 74 years.
Li Chunting, governor of Shandong, said the province will realize modernization within 20 years.
Shandong is China's third largest province in terms of the total economic size, after Guangdong in the south, and Jiangsu in the east.
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