China is able to achieve its economic growth target of 7 percent this year, said Zeng Peiyan, minister in charge of the State Development Planning Commission, here Thursday.
The target is set by taking into full account the favorable conditions China faces, he said at a press conference held by the Fifth Session of the Ninth National People's Congress.
They include the planned issuance of another 150 billion yuan of treasury bonds this year, influx of foreign investment following China's accession to the World Trade Organization (WTO), and domestic consumption.
China will strive to maintain a relatively fast pace of growth. Otherwise, Zeng stressed, such problems as employment pressure, difficulty in enterprise operation and less fiscal revenue may arise.
"The target of 7-percent growth is achievable through our efforts," the minister said, adding that China's economy had a good start in the first two months of this year.
(Xinhua News Agency March 8, 2002)