Main Medium-high Economic Growth

The proposal targets \"medium-high eco-nomic growth\" in the next five years. The key number is 6.5%. To achieve its 2020 economic goal， with GDP and per capita income of urban and rural residents double that of 2010， the Chinese economy shall maintain an average economic growing speed above 6.5%.

Xu Shaoshi， Director of National Develop-ment and Reform Commission， said that under the background of global sluggish economy in the previous three quarters， Chinese economy has maintained a 6.9% growing speed and contribut-ed 30% to the world economic growth.

Mr. Xu said that during the 13th Five-year Plan period， Chinese GDP and per capita income for rural and urban residents shall double that of 2010. The GDP for 2010 was 40.15 trillion yuan and double the number will be 80.3 trillion yuan. In 2010， the per capita income was 19，109 yuan and 5，919 yuan for China's urban and rural residents respectively. This could not be achieved without maintenance of a relatively high speed of economic growth. Therefore， it is imperative to maintain medium-high economic growth in the next five years. Also for China's building of moderately prosperous society， there will be another huge challenge that is lifting more than 70 million rural residents out of poverty. This requires maintenance of medium-high economic growth and insistence of development priorities.

Mr. Xu continued that the next round of economic recovery and growth will depend on technological innovation and industrial revolu-tion， which are consistent with China's innova-tion-driven strategy and opportunities it entails. China has huge regional development space and the new urbanization creates tremendous market demands and the effect ofinnovation is becoming increasingly strong. China has a population of l.3 billion， a workforce of 0.9 billion and 7，000 market entities. So China has huge economic development potential， tenacity and flexibility. China is also confident and capable of keeping a medium and high economic growth for the Chinese economy.

According to Mr. Han Baojiang， director of economics education and research department， Party School of Central Committee of C.P.C.， despite many risks and challenges， Chinese econ-omy is capable of maintaining a medium and high growth considering potentials of urbaniza-tion and consumer market.

He talked of the potentials for China to keep a medium and high economic growth: first， China is still in the medium and later phase of industrialization and acceleration phase of urban-ization， and the space for industrialization and urbanizationis huge; second， China's comprehen-sive national strength has been improving mark-edly and it has huge resources to resolve incoming challenges; third， China has a l.3 billion popu-lation and huge consumer market; fourth， China has a high deposit rate and strong capacity to transform the savings into asset and investment， which provides rich capital resources for China's industrial development.