Government on course to achieve its growth and unemployment targets

THE SPOKESMAN for the National Bureau of Statistics said at a regular media briefing in Beijing on Wednesday that the economic data of the first two months of this year indicate that the country’s economic growth is stabilizing and the good momentum will be extended this year. Beijing News comments:

Statistics from the bureau show investors’ confidence has grown, with a 7.9-percent rise in fixed asset investment, and an 8.1-percent growth in private investment year-on-year, laying a solid foundation for the economy to grow robustly this year.

If this momentum continues, there should be enough confidence that China can meet its about 6.5-percent growth target for the year and create sufficient jobs to keep the employment rate under 5.5 percent this year, which Premier Li Keqiang stressed as the government’s objectives in his work report earlier this month.

Only economic growth that is able to help realize sufficient employment can be deemed proper.

The high-speed growth stoked by, say, large-scale investment in certain specific fields, may not create enough jobs to satisfy the demand, and thus should not be encouraged, except under special circumstances.

And a sluggish growth shows the economy’s lack of vitality, in most cases, resulting in grave unemployment crisis threatening social stability.

The targets of 6.5 percent economic growth for the year and unemployment of 5.5 percent are the results of prudent deliberations and are achievable.

Realizing the targets can basically ensure continued economic transformation and the development of the nation.