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China targets 8% growth in 2010

2010-03-05 13:45 BJT

Special Report: 2010 NPC & CPPCC Sessions |

China expects its economy to grow by around eight percent in 2010. Addressing the opening session of the annual National People's Congress, Premier Wen Jiabao said in his government work report the country is at a "crucial but complicated" stage in its economic development.

China is in the world's focus, as the first country emerging from the global financial crisis unveils its future blueprint.

Close to three-thousand lawmakers have converged on Beijing, bringing their views and ideas to help the government tackle the challenges it faces.

In his work report, Premier Wen Jiabao hails the efforts made by the country and the people to offset the impact of the global economic meltdown.

China's GDP topped 33.5 trillion yuan in 2009. That's an increase of 8.7 percent over the previous year.

Government revenue was more than 6.8 trillion yuan, a rise of nearly 12 percent.

The report says the per capita income of urban residents was more than 17-thousand yuan, and the net per capita income of farmers was over 5-thousand yuan, up 9.8 percent and 8.5 percent respectively in real terms.

Over the last year, the government also created 11 million urban jobs.

Acknowledging the impact of the crisis still exists, China announces an eight percent of GDP growth rate target this year, the same as last year.

Chinese Premier Wen Jiabao said, "In targeting a GDP increase of around eight percent, we are emphasizing sound development, and we need to guide all sectors to focus on transforming the pattern of economic development and restructuring the economy in their work."