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China Expected to Bounce up to No.5 World Economic Country in Recent Years: Expert
According to the current developing situation, China, No.7 world large economic country last year, is expected to surpass the sixth and bounce up to the fifth of the world in recent years, pointed out Wang Mengkui, director of Development Research Center of the State Council, in Beijing recently.
Wang forecasted in his thematic speech delivered at China Industrial Hi-tech Forum that despite the influence of the slackening growth of the world economy and especially that of the US, China still sees a seven-percent economic growth this year. With its step of economic globalization quickened, the economic growth rate in the second half of this year will slow down a bit from that of the first half.
According to the report by China Securities newspaper, Wang said that China's GNP hit 8.9 trillion yuan last year, six times of that of the year 1980. The country has achieved the goal of quadrupling the GNP while seeing its population augment by 300 million. The days of goods shortage in the market are gone forever. In the last 20 years, China has become the one witnessing the quickest economic growth across the world.
Wang calls for laying the stress on energy development strategy and predicts that the 50 percent of oil supply in China will rely on importation from other countries by 2010. In 2020, it will become the largest oil importing country in the world.
By PD Online Staff Du Minghua
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