China continues rapid growth

Source: CCTV.com | 03-05-2008 12:56

China's economy continues moving forward with rapid growth and continued improvement in structure and efficiency. The net result -- improving quality of life for the people of China. The National Development and Reform Commission makes the observations in its report on the implementation of the 2007 plan for national economic and social development. The plan was presented to the annual session of the National People's Congress.

The report says economic performance continues to improve markedly. National revenue for 2007 was 5.13 trillion yuan. The year-on-year increase of 1.25 trillion yuan represents an increase of more than 32 percent.

Energy consumption per unit of GDP fell 3.27% in 2007. That's a significant improvement over the previous year.

China's GDP reached 24.66 trillion yuan in 2007. That's an increase of 11.4% over 2006.

China enjoyed another bumper grain harvest last year. Total production reached 501.5 million tons.

The report also sets major economic and social development targets for 2008. These include:

A growth rate in GDP of about 8 per cent. The projection is based on structural improvements, greater efficiency, lower energy consumption and environmental protection measures.

An expansion of urban employment by 10 million jobs. The urban registered unemployment rate is expected to remain steady at about four-and-a-half percent.

Keeping prices in check. The CPI increase should stay at around 4.8%.

Editor:Zhang Ning