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Last updated at: (Beijing Time) Tuesday, December 16, 2003

Jiangsu boosts economic development

East China's Jiangsu Province will take measures in 2004 to ensure the growth of its gross domestic product (GDP), said Governor Liang Baohua.


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East China's Jiangsu Province will take measures in 2004 to ensure the growth of its gross domestic product (GDP), said Governor Liang Baohua.

According to the provincial Statistical Bureau, the GDP of Jiangsu in 2003 will amount to 1.2 trillion yuan (145 billion US dollars), an increase of 13 percent from last year. The gross import and export turnover will exceed 100 billion US dollars, and direct foreign investment will reach 15 billion US dollars, accounting for one quarter of the national total.

Liang said Jiangsu will strive to increase its GDP by 10 percent next year to 1.32 trillion yuan (160 billion US dollars).

The province will boost reforms in state-owned enterprises and administrative institutions while encouraging private business and creating a favorable environment for economic development.

Liang said Jiangsu will boost the industrialization of agriculture, develop new technology and raise the creativity and competitiveness of pillar industries.

Jiangsu will make full use of foreign funds, especially in tertiary industries, and increase export turnover.

Liang also said that investment in education will be given priority, so that education will closely integrate with economic development.

In addition, Jiangsu will create conditions for individuals to start their own businesses, encouraging and protecting their incomes. Meanwhile, the province will provide more jobs for the unemployed, ensuring their basic living standards, he said.


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