Premier: China "able to achieve" about 8% growth

Source: Xinhua | 03-05-2009 09:19

BEIJING, March 5 (Xinhua) -- China will be able to achieve the economic growth target of about 8 percent in 2009, if proper policies and measures are taken, said Premier Wen Jiabao in his government work report to the parliament's annual session Thursday.

"As long as we adopt the right policies and appropriate measures and implement them effectively, we will be able to achieve this target," Wen told the Second Session of the 11th National People's Congress (NPC).

It is the fifth year in a row for the country to target an eight-percent growth.

"In China, a developing country with a population of 1.3 billion, maintaining a certain growth rate for the economy is essential for expanding employment for both urban and rural residents, increasing people's incomes and ensuring social stability," said Wen.

China's economy cooled to a seven-year low of nine percent last year, and broke a five-year streak of double-digit expansion, as the global financial crisis takes its toll on the world's fastest growing economy.

China is under great pressure to actualize the targeted eight-percent growth, which is essential for the populous developing nation, although the country outperformed the target in the previous four years.