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Last updated at: (Beijing Time) Tuesday, November 11, 2003

Chinese economy enters new era of development

China's economy has entered a new era of development after more than two decades of reform and opening to the outside world, said Zhu Zhixin, vice-minister of the State Development and Reform Commission (SDRC), on Monday.


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China's economy has entered a new era of development after more than two decades of reform and opening to the outside world, said Zhu Zhixin, vice-minister of the State Development and Reform Commission (SDRC), on Monday.

Zhu said at the China Economic Development Forum 2003 in the city of Suzhou in east China's Jiangsu province that China's economy had bid farewell to shortage of supply, a rigid system and closed-door development.

The economy was generally in a good shape, he acknowledged. Despite the volatile international situation, the outbreak of SARS epidemic and various natural disasters, the newly elected Chinese government had resorted to prompt and effective measures to secure sustained, rapid growth of the economy.

He said that China had set the general direction of building a well-off society in a comprehensive way. The country was implementing a wide range of strategies to develop the economy.

Zhu said the new growth areas of the economy lay not just in certain industries or sectors, but in the country's strategy of achieving a balance between social and economic development, between the development of urban and rural areas, between the human beings and nature, and between domestic development and opening to the outside world.

The government should keep a sober mind and be fully aware of the difficulties and challenges ahead, he noted. China would strive to maintain a stable economic growth and to avoid any possible major fluctuations in the economy.


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