NDRC to rev up new growth engines: minister

Xu Shaoshi, minister of the National Development and Reform Commission, or NDRC, takes questions from journalists during a news conference on March 5. [Photo / Xinhua]

Improving the pattern of economic development between different regions, making unremitting efforts in energy conservation, emissions reduction, low-carbon development, and ecological and environmental protection, are also weigh heavily on the ministry's work plan in 2015, said Xu.

Xu added that the NDRC will work hard to improve people's wellbeing and take well-targeted steps in the most-pressing issues such as employment, social security system, public services and government-subsidized housing.

Economic performance "better than expected"

The Chinese economy is confronted with more difficulties than anticipated in 2014, but it has scored more achievements than expected, Xu said.

The economic growth, CPI and job rates turned out to be stable, according to Xu. New breakthroughs were achieved in reform and opening-up, especially in the delegation of power, fiscal and tax systems, price and investment and financing system, he said.

"We have also seen structural transformation and upgrading as well as the improvement in people's wellbeing," Xu said, added that the number of people in poverty has reduced by more than 12 million and public services have been constantly improving.

"The Chinese economy is performing within an appropriate range with better growth quality, and the 7.4-percent growth rate last year is in line with our expectations and has placed the Chinese economy among the top in the world in terms of growth speed," he stressed.

2015 economic outlook "positive"

With the main economic indicators rising in February, the outlook of China's economy in this year remains well, according to Xu.

Xu said both China's service sector and manufacture PMI increased in February, which indicates that the social expectations is stable and market confidence has rebounded. The situation will bring optimistic effects to economic trends this year.

Economic development has many advantages, such as the huge investment, strong market confidence and the increased social demands.

Besides, the level of macro-economic control has increased, and with the improved controlling means, China can try to improve the quality and efficiency of the economic development.

The country plans to lower the annual GDP growth target to around 7 percent from 7.5 percent, according to a draft government work report delivered by Premier Li Keqiang on Thursday.

Xu said this target was accordance with China's middle to long-term development regularities, and also followed the trends that the economic development is stepping into the "new normal".

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