China's GDP to exceed 15 trillion yuan in 2005

China's Gross Domestic Product (GDP) is expected to exceed 15 trillion yuan (1.85 trillion US dollars) this year, said Premier Wen Jiabao at the Fifth Session of the 16th CPC (Communist Party of China) Central Committee.

Explaining the CPC Central Committee's Proposal on the Eleventh Five-year Program on National Economy and Social Development, Wen cited a preliminary estimation of the National Bureau of Statistics as saying that the average GDP growth rate in the past five years would be 8.8 percent, and the total revenue is to hit 3 trillion yuan in 2005, 1.3 times more than that in 2000.

Important progress has been made in strategic economic restructuring, with turning points achieved in agriculture, especially grain production, and basic industries including energy, transportation, raw materials, high-tech and infrastructure construction, he said.

The previous five-year period was an extraordinary era in China's history because the Chinese people successfully conquered the negative impact brought by Asian financial crisis, multiple enormous natural disasters and the SARS epidemic, he said.

China has enhanced and improved macro-control and effectively restrained unstable and unhealthy factors in the economic situation, propagating China's economic and social developmental momentum, he said.

Source: Xinhua