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China confident in meeting economic growth target

English.news.cn   2014-01-22 20:37:53

BEIJING, Jan. 22 (Xinhua) -- China's top economic planning body expressed confidence on Wednesday in the country fulfilling the national economic growth rate goal included in its 12th Five Year Plan (2011-2015).

"Given current economic trends, there will be no problem at all in China realizing 7-percent average annual economic growth at the end of the 12th Five Year period," said Xu Lin, director of the Department of Development Planning under the National Development and Reform Commission (NDRC), during the NDRC's monthly press conference.

China saw its economy maintain a 7.7-percent growth rate in 2013, the same as in 2012, with its gross domestic product totaling 56.9 trillion yuan (9.3 trillion U.S. dollars), data from the National Bureau of Statistics (NBS) showed.

The increase was less spectacular than the 9.2-percent advance in 2011, when the five-year plan started, but deemed as still satisfactory under the complex international environment and uncertainties regarding global recovery.

"China's economic performance stabilized in 2013 despite downward pressure both at home and abroad," an NBS official said on Monday.

NDRC spokesman Li Pumin said China will continue to implement a proactive fiscal policy and steady monetary policy in 2014.

According to a note accompanying the press conference, investment was a major driving force for the economy in 2013, contributing 50.4 percent of the economic growth, 3.3 percentage points higher than the figure for 2012.

In the meantime, private investment, propped up by favorable policies, boomed on the fast track, surging 23.1 percent year on year.

At the press conference, the NDRC said China will continue to make good use of investment for economic advance and keep it to a rational scale with optimized structure.

It said central investment in 2014 will focus on areas that are less attractive to private capital, such as subsidized housing, rural construction, major infrastructure projects, social warfare and innovation.

In addition, more specific guidelines for private capital will be drafted and investment projects in finance, oil and gas, electric power, railways, telecom, resources and public services can be expected.


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BEIJING, Jan. 20 (Xinhua) -- China's retail sales grew 13.1 percent year on year to 23.44 trillion yuan (3.84 trillion U.S. dollars) in 2013, the National Bureau of Statistics (NBS) said Monday.

Urban consumption stood at 20.25 trillion yuan in 2013, up 12.9 percent year on year. Rural residents spent 3.2 trillion yuan, up 14.6 percent year on year.Full story

China's industrial output grows 9.7 pct in 2013

BEIJING, Jan. 20 (Xinhua) -- Industrial output in China grew 9.7 percent in 2013 from a year ago, the National Bureau of Statistics (NBS) announced on Monday.

The figure marks a deceleration from the 10-percent growth seen in 2012.Full story

China's urban fixed-asset investment growth cools in 2013

BEIJING, Jan. 20 (Xinhua) -- The annual growth of China's urban fixed-asset investment cooled to 19.6 percent in 2013, the National Bureau of Statistics (NBS) announced on Monday.

Urban fixed-asset investment expanded to 43.65 trillion yuan (about 7.19 trillion U.S. dollars) at the end of 2013, bureau data showed.Full story

Editor: Lu Hui
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