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China projects 8 percent annual growth China should keep up its strong economic expansion over the next five years, with annual growth of 8 percent driven by abundant labor and a big domestic market, the State Council Development Research Center says Thursday. The projected growth is below the 9.5 percent reported for 2004 ¡ª the country's fastest expansion in eight years ¡ª but is by far the highest for any major economy.
Annual economic output should reach $2.6 trillion by 2010, the Xinhua News Agency said, citing the research center.
Its director, Wang Mengkui, "said the next five years will be a 'golden time' for China 's economic development."
Growth will be driven by China's "strength in materials and technology, a large domestic market, an abundant labor force and a stable society," Wang was quoted as saying.
China still faces problems from unemployment, gaps in income between city and countryside, social welfare burdens and a large population of migrant laborers, Wang said. |
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