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Fujian toes central line on economy

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Fujian Governor Chen Mingyi yesterday vowed to toe the central line of reining in economic growth, despite the province's ambitious infrastructure plans.

The province has set an economic growth target of 11 per cent this year, against the national average of eight per cent laid down by premier Li Peng last month.

This is despite Fujian's high growth rate of about 30 per cent last year, which saw the gross domestic output reach 220 billion yuan (HK$205 billion).

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The figure was much higher than the original 1995 target of 11 per cent and the 21.2 per cent growth rate of 1994.

Fujian has set the ceiling for price rises this year at nine per cent, compared with the 10 per cent national target, even though Fujian had a low 14.4 per cent inflation rate last year.

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Mr Chen said combatting inflation remained the foremost task.

'We should urge all levels of government departments to achieve the goal of suppressing price rises. We should ensure sufficient supply of rice bags and baskets of vegetables,' the Governor said in his Government Work Report, delivered at the opening of the provincial People's Congress.

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