Premier Wen said in his work report that China’s GDP would grow by 8% in 2006, higher than the 7.5% growth level set for the next five years. The 8% GDP growth is still lower than the around 10% growth recorded in the past three years. Nu Skin China’s VP Li Chaodong spoke of the need to maintain a high economic growth rate for a certain period, as the current economic situation demands a high growth rate.
China has to maintain its economic growth at a certain level to meet the ever-increasing material and cultural needs. University of International Business and Economics’ Professor Chu Xiangyin said that people’s living standard would improve only if economy grows. China is a populous country, and the government will have to create job opportunities for about 10 million people annually. If the domestic economy does not grow at a certain rate, China would be unable to generate adequate employment opportunities, for its vast population. Besides, economies in different regions have witnessed uneven development and high growth rate is imperative to achieve balanced development. Urban areas and the eastern coastal areas are relatively developed, while remote areas, central and western regions are still backward.