Although the target is slightly lower than the actual growth rate through the Ninth Five-Year Plan period (1996-2000), it is still fairly high, said Zhu.

The average annual economic growth rate over the past five years was 8.3 per cent and China is trying to double its GDP by the year 2010, Zhu said in his report on the draft Outline of the 10th Five-Year Plan for National Economic and Social Development at the opening meeting of the Fourth Session of the Ninth National People's Congress (NPC).

A total of 2,870 deputies attended the meeting of the country's top legislative body.

China will gear its macroeconomic policies to the changing economic situation, said Zhu.

"For the near future, we will continue to implement a proactive fiscal policy to increase investment and stimulate consumption," he said, adding that a sound monetary policy will be adopted to keep the currency stable.

This year, China will issue 150 billion yuan (US$18 billion) of long-term treasury bonds and invest the incoming revenue in projects under construction and development projects in the western regions.

To keep in line with economic globalization, China will "do a better job in opening to the outside world."

"Firstly, we should lose no time in preparing for China's entry into the World Trade Organization and fulfilling our tasks during the transitional period," said Zhu.

Practical measures include establishing a foreign trade system compatible with international norms, stepping up the work of revising relevant laws and regulations and making sure professionals are familiar with regulations governing international trade.

China will open up the service sector to foreign investment step by step and encourage foreign investors to invest in high-tech industries and infrastructure, set up research and development centers in China and participate in the restructuring and upgrading State-owned enterprises, said Zhu.

In carrying out the development of the western region, China will stress the construction of infrastructure and protection of the environment and strive for major breakthroughs within five to 10 years, he said.

"At the same time, we hope to develop science, technology and education considerably," Zhu added.

He described "agriculture, rural areas and farmers" as being of great importance to the country's "reform, opening up and modernization drive."

The principal economic task should focus on strengthening agriculture as the foundation of the economy and on increasing farmers' incomes, according to the Chinese Premier.

To achieve the goal, China will accelerate the pace of restructuring agricultural production, push reforms in rural areas and step up the construction of agricultural and rural infrastructure.

On cross-Straits relations, Zhu said that the mainland side will, together with the vast majority of its compatriots in Taiwan, resolutely put a stop to any separatist attempt and do its utmost to achieve peaceful reunification.

"An early settlement of the Taiwan question and the accomplishment of national reunification are the shared aspirations of the entire Chinese nation and an enormous task," said Zhu.

He added that dialogues and negotiations will be pushed so long as the one-China principle is observed by the two sides of the Taiwan Straits.

Another important task for the next five years will be to bring about a major improvement in the living standards of the people and make their lives more comfortable, said Zhu.

(China Daily 03/06/2001)