Premier: GDP to exceed US$1.85 trillion in 2005
Updated: 2005-10-20 08:27
China's gross domestic product (GDP) is expected
to exceed 15 trillion yuan (US$1.85 trillion) in 2005, said Chinese Premier Wen
Records show China's 2004 GDP stood at 13.65 trillion yuan (US$1.69
Wen was citing a figure from the National Bureau of Statistics as he
addressed the Chinese Communist Party's annual plenary session last week in
Beijing, which adopted the 11th five-year program for economic and social
development for the coming five years.
Premier Wen Jiabao describes China's goal of
doubling its year 2000 per capita GDP figure by 2010 as "active and
China's economy expanded at 9.5 per cent in the first half of this year and
is widely expected to see only a slight slowdown in 2006.
Wen described China's goal of doubling its year 2000 per capita gross
domestic product (GDP) figure by 2010 as "active and prudent." He also said the
goal of reducing energy costs per unit GDP by 20 per cent in the coming five
This reflects the requirement for the building of an energy-saving and
environmentally-friendly society and sustainable development, he said.
Although the Party meeting took place a week ago, Wen's comments were
released Wednesday by the official Xinhua News Agency.
Fiscal income is expected to stand around 3.0 trillion yuan in 2005 -- 1.3
times more than that in 2000 -- and full-year bilateral trade is forecast to
exceed 1.38 trillion dollars.
Wen said China should further expand its domestic consumption and expand its
overseas market to sustain its economic growth.
"We must base ourselves upon expanding domestic demand, a long-term strategic
policy that we must stick to," he was quoted as saying.
Wen said the country's economic strength has greatly improved over the past
five years but it is also facing increasing external uncertainties such as
surging international oil prices and further trade protectionism.
Meanwhile, there are still many structural problems with China's economic and
social systems, including uneven development in rural and urban areas, a growing
income gap between rich and poor, as well as mounting pressure on resources and
a deteriorating environment.
In his speech, the premier called for more efforts to build a harmonious
society, saying that employment, social security, poverty reduction, education,
medical care, environmental protection and safety will be given priority.
He said that employment will remain a tough issue for a long period of time
to come, so China has to carry out pro-active employment policies and try every
means to create job opportunities.
On social security, the premier called for further efforts to improve the
pension system, basic medical care, unemployment, industrial injuries and
maternity care, to earnestly resolve the social security issue for migrant
farmer workers in cities, and to set up a security system of minimum living
standards for rural areas.