China class of living overshadow GDP growth says specialists

The central authorities' suggestions for formulating the 12th Five-Year (2011-2015) Plan are good, but the signs some local governments send are concerning as stated by Mr. He Keng.

Addressing at a yearly economic forum arranged by the China Center for International Economic Exchanges (CCIEE), he admonished local agencies against establishing GDP growth to their top precedence when drawing up development plans for the following 5 years.

'Attempts must be created to transfer priority from accomplishing fast GDP growth to raising people's life standards,' stated Mr. He, also former deputy head of China's National Bureau of Statistics.

China's senior analysts on Saturday addressed localized authorities to transfer their focus from gross domestic product (GDP) stats to efficient restructuring and the growing of ordinary people's living standards.

China accomplished rapid GDP growth in 2010, but it was chiefly determined by investment, rather than national powers or domestic demand, as stated by Mr. He Keng, deputy head of the Financial and Economic Affairs Committee of the 11th National People's Congress.