China's economy is expected to grow
8 percent annually over the next five years, the Development?Research
Center of the State Council predicted.
Wang Mengkui, director of the
center, said that by 2010, the gross domestic product (GDP) of the
country would be 21 trillion yuan (2.6 trillion US dollars) with a
per capita GDP of US$1,900.
According to Wang, the country's
per capita GDP in 2005 will be 1,400 US dollars.
Wang said the next five years will
be a "golden time" for China's economic development, citing
strength in materials and technology, a large domestic market, an
abundant labor force and a stable society as the major driving
force for economic development.
Wang called unemployment, income
gaps, social security problems and population transferring "hidden
problems "threatening China's economic development.
China will continue to move towards
industrialization and urbanization and try to blend into the world
economic system gradually, he said.
(Xinhua News Agency February 11, 2005)