Report on national economy

China's State Council has submitted a progress report on the national economy and social development to the Standing Committee of the

National People's Congress. The report says economic growth has been rapid, but stable.

The report affirmed stable development of agriculture, marking the fourth summer harvest production increase since 1985.

And positive changes have been reached in industrial restructuring, with almost a third increase of new product output value.

China's GDP increased by 11.5 percent in the first half of this year.

Minister of National Development & Reform Commission, Ma Kai said, "The revenue in the first seven months increased by 30.3 percent, namely 728 billion yuan, which equals to the revenue of the year 1995. The continuous revenue increase enables us to solve a number of issues which have been shelved for many years."

According to the report, measures in energy saving and emission reduction are beginning to show results.

The measures are aimed to limit the expansion of industries with high energy consumption and emissions.

10 billion yuan has been added to support saving energy and reducing emissions.

The report also addresses the problems in the current economy, namely overly rapid economic growth, slow restructuring and high cost of development.

The investment increase is still high,the environment pollution still serious and the price of consuming goods is also getting higher.

Ma said, "The primary work for the current macro adjustment is to restrict the economic growth; and the agriculture development is still the core of our work.

Energy saving and emission reduction are the major means for restructuring and the transition of the economic growth mode. We will stick to the principle

of 'putting people first', and make the economic development a benefit for the people's lives."

The report stresses the promotion of agriculture development and farmers' income, and the control of investment on fixed assets. Stabling prices is also a major task for the remaining year.