Economy

China to boost demand, maintain balanced growth in coming 5 yrs

(Xinhua)
Updated: 2010-10-28 09:41

Projects key to expanding China's domestic demand would be given priority at the beginning of the 12th Five-Year period.

Capital would be further channeled into livelihoods, social programs, agricultural and rural construction, scientific innovation, biological and environmental protection, and resources saving, aided by industry policies.

More capital would be channeled into central and western regions.

The requirements for investment projects to meet in land use, energy efficiency, environment protection would be enforced strictly to check blind expansion or repetitive construction.

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Positive interaction between investment and consumption would be boosted. The expansion of investment, job creation and higher living standards would together create demand.

Fields available to government investment would be defined clearly and management of local government financial vehicles tightened to guard against investment risks.

Investment activities by state-owned enterprises would be standardized with preferences on economic and social benefits.

More non-state investment would be encouraged in infrastructure sectors, infrastructure equipment, urban public services, social programs and financial services.