State aims for steady growth

THE Chinese Government, hoping to repeat last year's 12 per cent growth rate in the gross national product, plans to start ''fine-tuning'' the economy to prevent a possible overheating, while keeping a steady pace of progress, reports the China Daily.

Mr Gan Ziyu, Vice-Minister of the State Planning Commission, told Chinese and foreign journalists in Beijing that the government would take more economic and legal measures and use market mechanisms to avoid the overheating.

But he ruled out the possibility of resorting to administrative means to curb economic growth.

Mr Gan said the Chinese economy now was not overheated, although there were some signs of overheating.

The Chinese economy was projected to grow by about eight per cent this year but its actual growth rate could be greater, he said.

The vice-minister said that in the 1990s, top priority would be given to adjusting and optimising the structure of industrial production.

He said China would continue to develop agriculture and water conservancy projects, to maintain steady growth of high-yield and high-efficient agriculture, and to promote the overall development of the rural economy.

It would also develop basic industries and infrastructures, and build key projects in such areas as coal, oil, transportation and energy as well as the petrol-chemical industry.