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2nd Ld: China Expects 8 Percent Growth in 2006, Premier Says

Posted on: Sunday, 5 March 2006, 13:00 CST

2nd Ld: China expects 8 percent growth in 2006, premier says EDS- Adds: quotes from economist

BEIJING, March 5 (Xinhua) -- China targets an 8 percent economic growth this year and will take measures to keep the development "fast" and "steady", Chinese Premier Wen Jiabao said here Sunday.

The projected growth rate is 1.9 percentage points lower than the actual growth in 2005, but is higher than the targeted annual growth of 7.5 percent for the 11th Five-Year Plan period (2006- 2010).

Wen made the projection while delivering the annual work report of the government to 2,927 deputies at the opening ceremony of the Fourth Session of the Tenth National People's Congress, China's top legislature, at the Great Hall of the People.

The projected growth rate conveys a signal of macroeconomic regulation that the economy should grow in a "steady and healthy" way with emphasis placed on economic performance rather than merely pursuing growth rate, said Wang Xiaoguang, an economist with the Institute of Macro-economics of the State Development and Reform Commission.

The pace of China's economic growth is likely to slow down this year, said Wang, who projected the actual growth rate at around 9 percent.

"Last year, the government expected a growth of 8 percent, but it came to 9.9 percent," Wang added.

Source: Xinhua News Agency - CEIS

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