China Economy Weekly: Economic Restructuring; Interest Rates Rise Amidst Inflation Worries
Saturday, October 30, 2010 at 7:41
China Restructuring Economy: China is seeking breakthroughs in economic restructuring while maintaining stable and relatively fast economic growth, the central committee of the ruling Communist Party of China (CPC) said on Monday.
"China will further boost people's incomes, enhance social construction and deepen reform and opening-up," said the Party's communique. This would facilitate "substantial progress in transforming the economic development pattern, and markedly promote China's comprehensive national strength, international competitiveness and better shield against risks.
China's Goal for New Strategic Industries: Beijing has announced plans to develop new strategic industries, saying their value-added output of would account for 8% of the country's gross domestic product (GDP) by 2015 and 15% by 2020.