China's economic development stepping into a sound development track

China's economy is stepping into a sound development track and increasing steadily but gradually, an expert said quoted by China Securities Journal, Friday.

More space for economic development together with the gradual improvement of the market-oriented economy drove China's economy into a new round of increases, Zhang Liqun, researcher with China Development Research Center of the State Council said.

Beginning in 2002, China's new round of economic growth is comparatively all-round and features the growth of manufacturing and new technologies, Zhang said.

In 2005, China's economy is expected to continue to grow at a rate of about 9 percent and consumer price index at 3 percent or so, Zhang predicted.

He said in the new round of economic increases, heavy industry is likely to see another boom, which will prompt the development of many related sectors, stimulating the economic increase.

The upgrading of manufacturing industry and the continuing migration of farmers into the cities will also quicken economic growth, said Zhang.

Yet reforms are still needed in some aspects of the economic system, including changes in the criteria for investment and the supervising of land, he said. It is crucial to deepen the economic reform in a bid to boost China's economic development.