Yao Jingyuan: China Ensures A GDP Growth of Eight Percent in 2009

    According to Yao Jingyuan, chief economist with the National Bureau of Statistics, China will be able to achieve its target of 8 percent growth in gross domestic product (GDP) this year, though difficulties lie ahead. He said the country’s economy demonstrates better recovery than in the U.S., Japan, Europe and other members of the BRIC group, which includes Brazil, Russia, India and China. China has maintained an average annual growth of 9.8 percent for 30 years since the adoption of the reform and opening-up policy. The current financial crisis slowed the growth to 9 percent last year, but the global economic downturn did not change the fundamental aspects of China’s economy, as shown in its industrialization, urbanization and marketization.