China will pursue a new model of economic growth in the coming
years as defined by the country's
11th Five-year Guidelines, a senior government official said
Sunday.
Ma Kai, the minister in charge of the National Development and
Reform Commission (NDRC) told
the China Development Forum that over the next five years the
country must truly 'get on the road' of scientific and harmonious
development. To allow this to be achieved this six fundamental
changes were required to be made.?
China had to strive to stimulate its domestic consumption
instead of relying on investment and exports. The country also had
to seek harmonious development among its primary, secondary and
tertiary industries and upgrade its economic structure. It should
not rely solely on the expansion of manufacturing.
To make its development more sustainable it must protect the
environment and conserve non renewable resources by reducing its
dependence on them and improving the efficiency of its resource
consumption, he said.
Instead of relying on the input of capital and physical
resources China had do seek development through scientific and
technological progress and the cultivation of human resources.
This, he said, could only be achieved by putting the emphasis on
innovation.
Another important change, Ma said, was that instead of relying
on government intervention, China had to allow market forces to
play a bigger role in the allocation of resources.
And finally China had to improve the living standards of people
and regard that as the priority. The country must shift its
attention away from the growth of wealth to the comprehensive
development of the population and balancing social and economic
needs. Ma said.
(Xinhua News Agency March 20, 2006)