China to continue enhancing macro control
(Xinhua)
Updated: 2004-04-12 11:00

The Chinese government has decided to continue enhancing macro-economic readjustment and control efforts so as to ward off threatening inflation and ensure a stable economy.

In a State Council executive meeting presided by Premier Wen Jiabao Friday, the government called for effective measures in macro-economic control, especially in economic performance control, as an effort to ensure steady and fast national economic growth.

According to the meeting, China has generally maintained a good momentum in economic development and various society sectors have developed in a comprehensive way.

It said China has witnessed soaring foreign trade and remarkable increase of revenue, together with rising enthusiasm among farmer and stable income increase among both urban and rural residents.

The meeting claimed that all agricultural support measures have been gradually implemented across the country, believing a good direction for agricultural development could be ensured in the end.

But the meeting also warned that there remain some serious problems during economic performance that deserves more attention, such as overgrowth of investment, too many new construction projects, blind or overlapped construction efforts.

The overheating problems in some sectors have imposed pressure on coal, power, oil and transport supplies and resultingly brought about rises in prices for raw materials and other necessities, according to the meeting.