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Home >> Business
UPDATED: 08:27, April 14, 2006
China requires regions to aim for rational economic growth
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The State Development and Reform Commission (SDRC) of China has instructed regional governments to be moderate in formulating economic growth programs for the next five years.

As most provincial economic growth goals are at least one or two percentage points higher than national targets, the central government fears regional economic growth targets may be unrealistic.

The notice requires provincial authorities as well lower local governments to form rational economic growth indices.

An average per capita gross domestic product (GDP) of 3,000 U.S. dollars by 2020 is the national goal, but should not be taken as a hard target for all cities or counties, says the notice.

The notice emphasizes that the GDP or economic growth rates should not be taken as the only standards in assessing regional development.

Regional development should also be determined by the level of public services and the quality of the environment, says the notice.

China's 11th Five-Year Plan (2006-2010) changed direction from its predecessors by aiming to build a "harmonious society", emphasizing improved living standards and public satisfaction rather than just hard industrial data as before.

Source: Xinhua


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