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China stresses industry restructuring in economic growth

(Xinhua)
Updated: 2009-07-25 11:01

China's government will support the development of the new energy, energy-efficiency and environment-friendly industries to improve the quality of economic growth in the second half, a senior Chinese official said last week.

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Zhang Shaochun, Vice Minister of Finance, said that China's economy was in a crucial period of stabilization and the ministry would continue its proactive fiscal policy to enable steady and relatively fast economic growth.

"Meanwhile, China will make efforts to push forward industrial restructuring, energy efficiency and cuts in pollution for sustainable economic growth," he said at a finance work conference in Jinan, capital of Shandong Province, organized by the ministry and attended by finance officials from across the country.

The government has set targets to cut energy consumption per unit of gross domestic product (GDP) by 20 percent from 2005 to 2010 and emissions of main pollutants by 10 percent.

The Chinese economy expanded 7.9 percent year on year in the second quarter in the wake of the massive 4-trillion-yuan ($585 billion) stimulus plan and record lending, official data showed.