Shandong targets to generate 4.9 trillion yuan in GDP this year

　　According to the provincial governor, East China's Shandong province expects to register a year-on-year increase of 9.5 percent in its gross domestic products (GDP), to reach 4.9 trillion yuan ($778.1 billion) by the end of 2012.

　　"The projected GDP growth rate, which is also 1.4 percentage points lower than the actual growth rate of last year, has been set purposefully," said Jiang Daming, an NPC deputy. He made this statement during this year's two sessions (the National People's Congress and the Chinese People's Political Consultative Conference), which opened in Beijing on March 3.

　　"It is chosen to guide the focus of our work in accelerating the transformation of the economic development pattern, so we can coordinate the pace of economic growth with structure, quality and efficiency," Jiang said.

　　Meanwhile, efforts will made to stimulate domestic market demand and fight inflation, with the consumer price index (CPI) to be kept under 4 percent and the total retail sales of consumer goods to increase by 15 percent.

　　The local financial revenue is projected to rise 14 percent and foreign trade by 10 percent.

　　To hit the target, the Shandong provincial government allocates a budget of 3.1 trillion yuan for fixed assets, up 17 percent from last year. Among them, 2.66 trillion yuan, or 86 percent of the total funds, will be used in improving people's livelihoods, emerging sectors, technological innovation, urban-rural development, water conservancy, energy-saving and environmental protection.

　　A total of 1,000 major projects on technological reform will be launched in an effort to speed up the reorganization and transformation of traditional industries.

　　The province also aims to increase the employment rate and give everyone equal job opportunities. They will assist 1.2 million rural laborers find jobs in cities and add 1 million new vacancies for urban residents. The per capita disposable incomes of its urbanites and the net incomes of rural people in Shandong province will both see a year-on-year increase of 10 percent.

　　Shandong will continue to implement several policies on property and land supply. It promises to build at least 305,100 units of low-income housing this year, with a total of 800 million yuan in backing.