Working Harder to Achieve This Year's Economic Growth Targets: Commentary

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Last updated at: (Beijing Time) Friday, July 18, 2003

Working Harder to Achieve This Year's Economic Growth Targets: Commentary

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Under the circumstance of the serious impact caused by SARS (severe acute respiratory syndrome) in the first half of this year, China's GDP (gross domestic product) still registered an 8.2 percent growth year-on-year and the national economy maintained the good momentum of fairly rapid growth.

This hard-won success embodies the hardworking sweat of the cadres and the masses in general, and will greatly inspire the people of the whole country to continue to unite in the struggle for attaining this year's economic growth targets.

The sudden outbreak of SARS brought serious threat to people's health and safety of their lives and caused tremendous impact on the national economy. Under the influence of the SARS disaster, consumption was reduced, the market was desolate, the circulation of materials was impeded, migrant workers returned to their hometowns, employment difficulty increased, foreign economic activities were hindered, some industries, particularly the service industry, suffered serious losses.

At this critical juncture, the Central Committee of the Communist Party of China (CPC) with Hu Jintao as the general secretary, standing on the high plane of fully implementing the "three represents" important thought and proceeding from the fundamental interests of the masses of people, determinedly made the major strategic decision to tackle the major event of preventing and treating SARS with unremitting efforts and unswervingly grasp the central task of economic construction. The whole nation, united as one in the work of mass prevention and control of SARS, effectively kept the SARS epidemic under control.

At the same time, in light of the new situations and new problems brought by SARS on economic work, the Party Central Committee promptly released a series of major policies and measures to support those industries sustaining fairly big impact of SARS, intensify investment efforts, promote consumption, expand export, increase employment and reduce the negative influence of SARS to the maximum.

Although the epidemic of SARS slowed the economic growth rate in the second quarter of the year, through the common efforts of various regions, departments and fields, the economy still maintained a fairly high growth rate in the first half of this year., as evidenced by the continued rapid growth of industry, the balanced development of agricultural production, the continued expansion of domestic demands, the fast foreign economic and trade growth, a favorable situation of financial revenue and expenditure and a steady financial operation.

Fresh progress was made in the adjustment of the economic structure, reforms in various fields have been progressing in an orderly way, various undertakings have witnessed all-round development, and the economy and society have remained stable. Practice has proved that the important strategic decision made by the Party Central Committee to tackle the epidemic of SARS and grasp the central task of economic construction simultaneously is entirely correct.

We are full of confidence in realizing the target of a 7 percent economic growth for this year, but we should also take note of the fact that the work involves fairly great difficulty. The influence of SARS on the economy has not yet been completely eradicated, some influences will make their gradual appearance. The task of preventing and fighting floods is arduous, the extraordinarily serious floods in the Huaihe River Valley have caused enormous economic losses. What's more, the contradiction caused by inadequate effective demand has not been fundamentally resolved, farmers have difficulty in increasing incomes and face larger pressure of employment. The task of reform, development and stability is still very arduous in the latter half of the year, we must not slacken our efforts in the slightest.

To realize this year's economic growth targets and to maintain the good momentum of the sustained, rapid and sound development of the national economy, it is very important to do the work well in the second half of the year.

We should resolutely implement the plans mapped out by the Party Central Committee and the State Council for the economic work in the second half of the year, continue to persist in the principle of expanding domestic demand, implement the proactive financial policy and the prudent monetary policy, and do everything possible to expand demands.

We should continue to grasp the construction of a batch of major projects that bear on the general situation, accelerate the technical renovation of enterprises, support and guide the development of industries that play a major role in driving economic growth, increase input for the construction of a public health system and the building of rural infrastructure facilities, and carry out the policy for supporting industries subjected to fairly great influence of SARS epidemic.

We should earnestly reduce burden on farmers and strive to increase their incomes. We should consolidate and develop housing, automobile, tourism and other consumption hot spots, cultivate new consumption growth points, such as community service, leisure and recreation, sports and body-building, sanitation and health care.

We should take employment as the work of overriding importance for governments at various levels, properly carry out the Central Committee's policies and measures for expanding employment and reemployment and increasing work posts through multiple channels.

We should help urban and rural masses in difficulties to solve their problems in production and life, particularly do a good job in the work of placement of masses in disaster-hit areas.

We should pay attention to the coordinate development of economy and society, accelerate the development of education, health, culture and other social undertakings. In compliance with the requirements of perfecting the socialist market economic system, we should continue to deepen reforms and create a good institutional environment for economic development and start-up of enterprises by the masses. We should expand opening up, increase export and actively utilize foreign capital.

This year is the year for comprehensive implementation of the spirit of the 16th CPC National Congress, as well as the important year for taking new steps toward building a well-off society in an all-round way. It is of important significance in doing this year's economic work well.

We should intensively study and consciously implement the "three represents" important thought, unswervingly and firmly grasp the central task of economic construction, always firmly bear in mind development as the first important task for rejuvenating the country through the performance of administration, we should keep advancing despite difficulties, redouble our efforts to ensure achievement of this year's economic growth targets and continuously push forward the cause of reform, opening up and the socialist modernization drive.

By People's Daily Online

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