China confident of achieving 8 pc GDP growth

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Beijing, Feb 27: China's good financial system will make the country achieve its 8 per cent Gross Domestic Product (GDP) growth target for the year 2009, said Liu Tienan, Vice Minister of the National Development and Reform Commission, on Friday, Feb 27.

Liu said China's fast development facilitated industrialization and urbanization, trends that in turn provided huge consumption potential.

He said that the company was facing downward pressure due to global economic crisis from the fourth quarter. To overcome the global economic crisis, China has developed stimulus packages for 10 sectors namely, automobile, steel, shipbuilding, textiles, machinery, electronics and information technology, light industry, petrochemicals, nonferrous metals and logistics. The plans also reflected public concerns and the effort to protect the environment.

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