China's Economic Giant Province Sets Development GoalShandong Province in east China has set its annual GDP growth rate at 9 percent for the coming five years.Li Chunting, governor of Shandong, told the provincial congress delegates that the province's GDP will reach 1,311.5 billion yuan (US$158.5 billion) by the end of 2005, increasing the per capita GDP figure from last year's 9,580 yuan (US$1,158) to 14,100 yuan (US$1,705). He said the reforms of the state-owned industries and the establishment of a modern enterprise system will be basically completed in the coming five years. By the end of 2005, non-state-owned industries will make up over 40 percent of the GDP of the province, Li said. By then, he said, over half of the province's economic growth will come from the advancement of science and technology. Also at that time, the total population of Shandong will be controlled under 93 million, with the expected life span reaching 74. Shandong is the third largest economic giant in China, behind Guangdong and Jiangsu in terms of total economic volume. |
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