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Business
Print Edition> Business
UPDATED: March 20, 2011 NO. 12 MARCH 24, 2011
Foreign Views
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The indication of 7-percent economic growth is a strong message by the Chinese Government to grow in its economy not just in terms of speed, but also by quality. Also, more efforts will be taken to make sure that the economic growth is not at the expense of environment.

Matthew Myers (United States, financial analyst): As for the 12th Five-Year Plan, I am encouraged by the emphasis placed on improving the environment as well as addressing the inequality of wealth within the country. Furthermore, the focus on improving rural lives, in addition to developing the infrastructure of rural areas, should help set China on a path toward achieving a more sustainable form of development.

Holly Hao Zhao (United States, student): Premier Wen Jiabao's government work report seems at once, more specific [than an American president's State of the Union Address] with regards to targets achieved and progress made, yet more general in terms and methods used to implement the targets.

One striking aspect of the government work report involved the new goal of 7 percent as the estimate for GDP growth in the future, emphasizing the importance China is now placing on sustainable development, as opposed to overall growth.

Harry John Pellegrini (United Kingdom, student): The 12th Five-Year Plan is comprehensive, but lacks rebalancing measures and action on key matters such as military reorganization, corruption, income disparity and the extension of opportunities to rural residents. The largest single cause of current inequality—the hukou system—was not mentioned and development was still focused on national strength rather than improving the imperatives of self-determination and extension of opportunity.

Michael Peter David Brewer (United States, English language teacher): My concerns about the 12th Five-Year Plan are: With regards to the migrant workers being encouraged to move to and work in second-tier cities, what will the modifications of the hukou system be? Will the benefits extend to their families—by this I mean, free school for their children, access to health care? Will this result in a shortage of labor in first-tier cities resulting in higher wages for the remaining workforce?

With regards to the government's commitment to reducing electricity consumption by 16 percent, will the government encourage collaborations with foreign firms which possess innovative green technology?

To allow for the possibility of renewable energy to become viable, it is my opinion that a "smart" electricity grid must be developed. Currently, wind energy is being wasted because it cannot be connected to the grid. I want to know what is the government's plan regarding this.

Han Chen (United States, student): The government work report contains a surprisingly large number of hard statistics, compared to the U.S. State of the Union Address, and highlights economic and social achievements. Wen highlighted a number of pressing social concerns, such as the rise in food prices, effects of prolonged drought in some regions, need for reforms and crackdowns against corruption.

Also, emphasis was placed on lowering GDP growth targets, which are consistently lower than reality later on, and measuring the quality of life rather than only economic growth.

Environmental concerns also took center stage, but only so much as related to sustaining sources of energy, water and other vital resources with foreseeable limits. Attention was also paid to development in provinces further west and southwest as they develop more, although it is not clear how this point is drastically different from the 11th Five-Year Plan.

Odmaa Narantungalag (Mongolia, customer service representative): Premier Wen Jiabao has prioritized several measures in his government work report. One of them is to bring development to all people. The government wants every individual to have access to a better standard of living. Another issue is that more than ever before the Chinese Government is focused on decreasing the income disparity between the poor and the rich, thereby increasing the middle class.

Moreover, the government is focusing on green development. Unlike many other countries, China is in the process of formulating a happiness index that captures Chinese culture and unique characteristics, in addition to high per-capita GDP growth.

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