China is facing favorable internal and external conditions in
2006 for another year of rapid growth, said economists
participating in the annual plenary session of the Chinese People's
Political Consultative Conference National Committee (CPPCC).
To ensure sustainable growth in the long-term, the country needs
to address fundamental institutional problems, such as excessive
government intervention in economic activities, to promote a
market-oriented approach in economic management, the economists
said yesterday at a press conference.
Qiu Xiaohua, a CPPCC member and deputy commissioner of the
National Bureau of Statistics (NBS), said
domestic factors concerning economic growth are in "good
shape."
Investment, exports and domestic consumption, which worked as
the main engines driving the Chinese economy in recent years, will
continue to grow steadily, supporting the entire economy on the
fast track, he said.
China's gross domestic product (GDP) grew by 9.9 percent in
2005. This year's target is 8 percent, according to Premier Wen
Jiabao's government work report.
Qiu said the problem of the short supply of oil, coal and
electricity, which troubled growth in the past few years, has been
eased thanks to government macro adjustment measures.
"This, together with a bumper grain harvest for two consecutive
years, has created a relaxed environment for the stable growth of
our economy," he said.
The global economic environment is also said to be positive
despite high oil prices and uncertainties at international
financial markets.
(China Daily March 8, 2006)