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GDP expected to grow 10.5% in 2006
(Xinhua)
Updated: 2006-10-11 11:26 Efforts to curb sizzling investment
China will
maintain efforts to curb overheated investment in fixed assets throughout the
second semester, according to the minister in charge of the National Development
and Reform Commission (NDRC).
In his report on the NDRC website, Ma Kai
said curbing excessive growth of investment and loans and reining in the trade
surplus are major macro-economic objectives in the second half of the year.
Curbing sizzling investment in fixed assets will be the key as more
efforts are made to control land use and bank lending, Ma said in his report.
Ma said the NDRC would exercise stringent control over land use
ratification, intensify the management of land for industrial use, and raise
land use fees for new construction projects.
The NDRC will tighten
control of new projects and check the aimless expansion of sectors characterized
by high energy consumption, serious pollution and overproduction by lifting
thresholds for market access, said the minister.
The NDRC will also make
more efforts to increase farmers' income and promote agricultural production,
cut energy consumption and pollutant emission and upgrade industrial structures,
he said.
The NDRC will focus on solving problems that really concern
people such as education, employment, medical services and work safety, said Ma.
More efforts will be made to deepen reform in investment and resources
pricing systems as well as in sectors such as electricity, postal services,
railways and telecommunication.
Data from the National Bureau of
Statistics (NBC) showed that investment in fixed assets for the first half of
the year were more than 4.23 trillion yuan (US$530 billion), up 29.8 percent
year on year nationwide, and up 31.3 percent in urban areas.
China has
adopted a series of measures to cool down the country's white-hot economy. Urban
fixed assets investment in August grew 21.5 percent, down 5.9 percent from July,
according to statistics from the NBS.
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