The Political Bureau of the Communist Party of China Central Committee has called for close attention to some new problems in China's national economy, especially the excessive investment in fixed assets and the shortages of coal, power, oil supplies and transportation facilities.

The Political Bureau of the Communist Party of China (CPC) Central Committee has called for close attention to some new problems in China's national economy, especially the excessive investment in fixed assets and the shortages of coal, power, oil supplies and transportation facilities.

General Secretary Hu Jintao of the CPC Central Committee chaired a state-of-the-economy meeting held in Beijing Monday. Participants agreed that the nation’s economic development is generally good. Agricultural production is satisfactory, as are the rise in industrial profits, growth in foreign trade, levels of foreign investment and increase in citizens’ income.

Fixed asset investment in some industries is growing too fast, however, which has led to the rocketing of loans. Meeting participants called for close attention to these problems and the taking of action to solve them.

With China's economic development at a crucial stage, they stressed the proper control of loan issuance, management over land use, strict control of new construction projects and the cessation of blind investment and low-level repeated construction in some sectors.

 (Xinhua News Agency April 27, 2004)