| Moderated GDP growth target for better economy |
SHANGHAI, Mar. 7 -- China set up a moderated economic growth plan for this year, aiming to improve the issue of its excessive consumption of resources, the country's top economic planner said today.
The country "paid too big of a price for the economic growth," said Ma Kai, director of the National Development and Reform Commission.
He made the remark at a press conference in Beijing, in response to a question if the 10.7-percent rise of last year's gross domestic products was too high, as the country targets an eight-percent growth this year.
Ma said China's economy will not go well and farther, if the country cannot improve the situation of boosting the economy at the price of excessive resources consumption.
A moderate target this year is expected in order to help gain faster paced economic growth at a lower cost and stabilize the economic growth to avoid a sharp rise and sharp drop, Ma said.
However, he said last year's GDP growth was normal, generally speaking, as it was the fourth consecutive year to keep economic growth faster than 10 percent, and there was no prominent fluctuation between quarter performances.
It means the stability of the economy is improving, Ma added.
Besides, consumer prices rose only 1.5 percent last year, indicating no inflation. The economic growth also generated good proceeds, he said. Financial income totaled more than 3.9 trillion yuan (US$487 billion), an increase of 760 billion yuan -- a figure that equals the sum of the incomes in 1995 and 1996.
The crunch of coal, electricity, oil and the transport capacity was also alleviated last year, Ma said.
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