In order to cool their respective economies down and make them more efficient and environmentally friendly, Governments across China have adjusted their annual economic growth projections downward. More signs show that localities are striving to shift from extensive to more intensive economic growth modes -- or qualitative rather than quantitative growth, under the direction of the central government. www.cncraftinfo.com
www.cncraftinfo.com
According to the latest report, Beijing's 2005 economic growth was targeted at 9 percent, down 4.2 percentage points from the city's real GDP growth last year; Tianjin adjusted its annual economic growth downward by 3.7 percentage points to 12 percent for the current year; Guangdong also set the province's annual economic growth target at10 percent, down 4.2 percentage points. The mayors of these three cities all expressed that environment protection should be developed together. www.cncraftinfo.com
www.cncraftinfo.com
Those lowering their economic growth projections also included eastern Shandong Province, another economic engine along the nation's coast, and Shenzhen, China's first special economic zone. Shandong's economic growth target is five percentage points lower than the year-earlier level of 15 percent; while Shenzhen's, is set at 13 percent, 4.3 percentage points lower. Shanghai, China's most economically powerful city, has decided to strive for a 11-percent economic growth this year, down from its 13.5-percent real growth last year. www.cncraftinfo.com
www.cncraftinfo.com
All these are in conformity with the Chinese government's new development strategy, which stresses concerted and sustainable development. The new concept of development was hailed by Chinese economists as of historic significance in China's economic development. www.cncraftinfo.com
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