A Retrospect of the Macro-economy in China in 2003 and Prospect in 2004

The economic growth rate in China in 2003 is moving out of the range where it is above 7 and below 8. The economic growth mainly stems from investment while the growth in consumption is comparatively slow. Because of the low consumption preference and of the fact that China is becoming the manufacturing center in the world, the high investment is reasonable. Macro-economic growth of China in 2004 will maintain its fast rate. The contradiction between investment and consumption is alleviating. The government will moderately adjust its macro-economic policy to speed up the pace of all reforms in the background of faster economic growth.