China to announce several major economic policies
(Asia Pulse)
Updated: 2005-12-08 15:08

According to Ma, the Proposals on stepping up the development of the service industry will soon be published. The country will select several cities for trial operation of service system reform and innovation, and will boost the development of production-type service industry such as transportation, finance and modern logistics, and new-born life services in community.

It will also upgrade and improve quality of traditional services in the fields of commerce, trade, catering, posts and tourism.

Ma said that the country will deepen reform of the monopoly industry, including the reform of administration systems of electric power, civil aviation, postal service and tobacco, and market-oriented operation of public utilities such as water and gas supply system.

Ma forecast that China's GDP will grow 9.4 per cent in 2005, resident consumer price will rise less than 2 per cent, total fixed asset investment will rise 25 per cent, and total retail sales of consumer goods will rise 13 per cent.