A special committee of China's parliament said in Beijing Thursday that the government's plan on national economic and social development is "feasible" and proposed parliament ratify it.

These were the highlights of a report on the deliberation of the plan, made by Fu Zhihuan, chairman of the Financial and Economic Committee of the National People's Congress (NPC), at a presidium meeting of the parliament session.

Relevant Chinese laws and regulations stipulate that during parliament session, the committee should report to the presidium about the examination on the national economic and social development plan and the government budgets on the basis of opinions of NPC deputies and other specialized NPC committees.

Fu's report, upon adoption by the presidium, will be submitted for deliberation and final approval by the NPC.

The committee was impressed by the central and local governments in their efforts to "seriously" carry out 2004 plan, which resulted in "hard-earned" achievements in economic and social development, according to Fu.

However, he said, there still exist many difficulties and problems that should be addressed. Those problems include a weak foundation of agriculture, excessive fixed assets investment, possible rebounding of investment demand, extensive economic operation, contradictions between resources development and environmental protection, growing income disparity, and poor production safety record.

"Based on the opinions of the deputies," Fu said, "the committee proposed the government strengthen and improve macro-economic control and maintain sustained, stable and healthy economic development this year."

To accomplish the year's tasks for national economic and social development, the government also should give greater support to the development of agriculture and rural areas, help farmers earn more and promote the overall development of the rural economy.

The committee urged the government to deepen reforms, accelerate industrial restructuring and change to change the mode of economic growth, while enhancing supervision to ensure the stability and growth of the financial sector.

The committee also called for intensified efforts to develop a recyclable economy on the basis of resources and energy conservation, and to push forward social undertakings for coordinated economic and social development, Fu said.

Fu's report was ratified by the presidium, which decided to submit the report to the NPC for further deliberation and final approval.

Source: Xinhua