China looks to its people to spur growth | world | Hindustan Times
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China looks to its people to spur growth

world Updated: Oct 18, 2010 22:11 IST

China, the world's second-largest economy, aims to maintain "stable and relatively fast" growth over the next five years, the ruling Communist Party said Monday at the close of its key annual meeting.

The country hopes to achieve a "major breakthrough in economic restructuring", boosting domestic demand and becoming less reliant on exports, the official Xinhua news agency said.

"China will boost incomes, enhance social construction and deepen reform and opening up," the party statement said.

Thrust areas mentioned were: reducing the rich-poor gap, improving basic public services and building new strategic industries, among others.

The next five years will be a "critical stage for China to build a moderately prosperous society", the party said, underlining concerns about the wealth gap.

China also vowed to "actively participate" in global economic governance and regional cooperation.