The Communist Party of China Central Committee's proposal on
the 10th Five-Year Plan for 2001-2005 has been welcomed by economists
and business leaders.
Liu Shucheng, an
economist from the Chinese Academy of Social Sciences, said
goals in the proposal announced Wednesday are encouraging,
realistic and fully attainable.
He said the Party
made a good choice in focusing efforts for the next five years
on structural adjustment, technological progress and the improving
of the people's living standards. The economist said this
is a wise and timely decision at a time when China has said
farewell to short supply of major commodities, basically established
the socialistic market economic system, and knocked open the
door to the WTO.
Another economist
from the academy, Jiang Xiaojuan, said the proposed goal of
having the country's GDP doubled in the next 10 years would
mean a 7.2-percent average annual growth, which she said is
in line with the general trend in China's economic development.
Jiang said China
would open further to the outside during the 10th Five-Year
Plan period, including the opening of its finance and telecommunications
sectors to foreign businesses.
She also expects
more Chinese enterprises to invest overseas, saying that China's
overseas investment may hit 8-10 billion U.S. dollars in the
next five years.
Business leaders
also welcomed the proposal. Wang Yuchun, president of Shenyin
Wanguo, a major securities company in China, said the goal
of the proposal is an encouragement to them and outlined the
direction their work should take.
Sources from the
Shanghai Fuxing Industrial Co., a private firm listed on the
Shanghai Stock Exchange, said the proposal is good news for
private technology companies like Fuxing, as it stresses the
importance of technological innovations and promises support
for the private sector as well as small and medium-sized businesses.
(People's Daily
10/13/2000)
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