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Fujian to stimulate economic growth

By Diao Ying and Tu Lei (chinadaily.com.cn)
Updated: 2009-01-12 09:31

The southeastern province of Fujian aims to achieve 10 percent economic growth this year despite the impact of the global economic downturn, top provincial officials said at the ongoing provincial people's congress.

The province expects to achieve that goal through several key infrastructure projects, including railway, ports, and highways, provincial governor Huang Xiaojing said in his work report.

Related readings:  Fujian targets 10% growth in 2009  Policies to support Fujian SMEs  Xiamen continues to attract Taiwan investors  Xiamen rides on reform tides

Fujian plans to invest 147 billion yuan ($21.52 billion) on 526 projects in 2009, said Huang. Two railway routes, Wenzhou to Fuzhou, and Fujian to Xiamen, costing 12.6 billion yuan and 15.3 billion yuan respectively, are projected to be in operation in June and Dec in 2009 respectively.

Huang said Fujian also aims to stimulate domestic consumption by increasing residents' purchasing ability, improving minimum living standards, and expanding residents' investment channels.

Chen Mingsen, economic consultant of the Fujian government, said the main income for the province's residents is their salary, and the policy will help low-income earners to benefit more from economic development.

Fujian will encourage the development of the second-hand realty market and renting market, and a series of rules to encourage more residents to buy real estate are expected, said Huang, adding Fujian will enhance development of the rural consumption market, and encourage more home appliances to be sold in the rural market.