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Hu: economy moves in right direction
(Xinhua)
Updated: 2004-07-24 11:56

Chinese President Hu Jintao said in Beijing Friday that the Chinese economy is moving in the right direction as anticipated by economic policymakers.

Hu made the remarks at a meeting with leaders of the country' s non-Communist parties, the national federation of industries and commerce and personage without party affiliation.

Premier Wen Jiabao gave a briefing on the country's economic situation during the first half of this year at the meeting, which was presided over by Hu.

"The various measures and policies introduced by the central government are being implemented step by step, and the whole economy is moving towards our anticipated targets of macro-economic regulation," the premier said.

In order to achieve a sustainable and healthy economic development and narrow the growing income gaps, China has tightened management of land releases and loans to selected sectors in order to cool the economy since late last year.

The Chinese economy grew 9.7 percent in the first half of this year. The government has increased support for farmers to boost grain production and raise their income.

President Hu spoke highly of the proposals and comments made by participants of the meeting to the central authorities on macroeconomic policies. Their remarks are important for the central authorities to perfect the policies, said the president.

Hu said China would continue to implement and improve its policies and measures for macroeconomic control, while giving priority to grain production and consolidating the fundamental position of agriculture and easing energy shortages.

Wen said the achievements China has made in macroeconomic control are still preliminary. He cautioned that the outstanding problems facing the economy have not been rooted out and the macroeconomic control measures should not stop half way.

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