China's economic outlook extremely rosy, says Zhu

[Dao Van <daotb@yahoo.com>]

NOV 21 1999

China's economic outlook extremely rosy, says Zhu

The economy should take an upward tack if the country pursues economic
reform and opens up, says the premier

By MARY KWANG CHINA CORRESPONDENT

BEIJING -- Chinese Premier Zhu Rongji has described China's current
economic outlook as good, saying the economy should improve if the
country continues to pursue its policies of economic reform and
opening-up. 

He made these remarks in a written response to questions raised by Asean
media prior to his two-week visit tomorrow to four South-east Asian
countries, including Singapore. 

He said that despite facing "new situations and problems", China should
be able to realise its economic goals "as long as we adhere to the
development path appropriate to China's national conditions, stick to
reform and opening-up policies, and balance correctly the demands of
reform, development and stability". 

The "new situations and problems" he mentioned are seen as a reference
to issues like state-sector reforms, the plight of state-owned
enterprises, unemployment, fiscal reform and the need to set up a social
security network. 

Such reforms have taken on added urgency as China prepares to join the
WTO. 

Mr Zhu cited specific measures China should take to attain its economic
goals.  These included raising demand, accelerating infrastructural
development, restructuring the economy, maintaining stable agricultural
growth and boosting the level of technology in enterprises and upgrading
industries. 

"The outlook for China's economic
development is extremely rosy."

He said: "Last year, our gross domestic product was 7.8 per cent.  In
the first nine months of this year, GDP grew by 7.4 per cent while trade
expanded by 9.4 per cent over the corresponding period of the previous
year."



ECONOMY: The goals

Adhere steadfastly to the development path appropriate to China's
national conditions. 

Stick to economic reform and opening-up policies. 

Balance demands of reform, development and stability. 
__________________________________________________
Do You Yahoo!?  Bid and sell for free at http://auctions.yahoo.com