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BEIJING, March 5 (Xinhua) -- China maintains its 2013 gross domestic product (GDP) growth target unchanged at around 7.5 percent this year to leave some leeway for economic restructuring, according to a government work report to be delivered by Premier1 Wen Jiabao at the annual legislative2 session Tuesday.
The targeted growth also aims to create jobs and improve people's wellbeing, according to the report.
This marks the second consecutive3 year for the world's second-largest economy to target growth at 7.5 percent. In 2012, the government cut the forecast rate for the first time in eight years from a longstanding annual goal of 8 percent.
The report says the profound impact of the global financial crisis persists, and the recovery of the world economy is "full of uncertainty4 and not yet on a stable footing."
However, the report also cites the "considerably5 increased capacity" of China's manufacturing industry, "significantly improved" infrastructure6 over the years, high savings7 rate and large workforce8 as "favorable conditions and positive factors" to sustain development.
"In light of comprehensive considerations, we deem it necessary and appropriate to set this year's target for economic growth at about 7.5 percent, a goal that we will have to work hard to attain," reads the report.
China's economic growth eased further to a 13-year low of 7.8 percent in 2012, from 9.2 percent recorded in 2011 and 10.3 percent in 2010. The country's GDP stood at 51.9 trillion yuan (about 8.3 trillion U.S. dollars) last year.
In 2011, the government announced it targeted an average of 7 percent annual GDP growth in the years of 2011-2015, or the country's 12th Five-Year Plan period.
"We must maintain a proper level of economic growth in order to provide necessary conditions for creating jobs and improving people's wellbeing and to create a stable environment for changing the growth model and restructure the economy. We must ensure that economic growth is in accord with the potential economic growth rate," says the report.
The maintaining of a relatively9 slower growth target aims to guide all the people to shift the focus of their work to accelerating the change of the growth model, restructuring the economy and improving the quality and performance of economic growth, so as to promote sustained and healthy economic development, according to the report.
The Chinese government also decides to rein10 in inflation more decisively by lowering the control target of this year's consumer price index (CPI) increase to around 3.5 percent, compared with 4 percent targeted last year.
The government cooled down the inflation rate to 2.6 percent year-on-year in 2012. The inflation rate eased further to 2 percent in January this year.
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1 premier | |
adj.首要的;n.总理,首相 | |
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2 legislative | |
n.立法机构,立法权;adj.立法的,有立法权的 | |
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3 consecutive | |
adj.连续的,联贯的,始终一贯的 | |
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4 uncertainty | |
n.易变,靠不住,不确知,不确定的事物 | |
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5 considerably | |
adv.极大地;相当大地;在很大程度上 | |
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6 infrastructure | |
n.下部构造,下部组织,基础结构,基础设施 | |
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7 savings | |
n.存款,储蓄 | |
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8 workforce | |
n.劳动大军,劳动力 | |
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9 relatively | |
adv.比较...地,相对地 | |
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10 rein | |
n.疆绳,统治,支配;vt.以僵绳控制,统治 | |
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11 vows | |
誓言( vow的名词复数 ); 郑重宣布,许愿 | |
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12 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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13 prudent | |
adj.谨慎的,有远见的,精打细算的 | |
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14 monetary | |
adj.货币的,钱的;通货的;金融的;财政的 | |
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