Inflation is our top concern, asserts China Premier

Premier Wen Jiabao on Wednesday said that China would expand the 8220;breadth and depth8221; of the openness of its economy and pledged to intensify efforts to ensure 8220;clean8221; government, as he listed curbing inflation and preventing overheating of the economy as top priorities. 8220;Reform and opening up is a major and crucial choice that is shaping the destiny of contemporary China,8221; Wen said in his address to members of the National People8217;s Congress. Identifying the current price hikes and increasing inflationary pressures as the 8220;biggest concern8221; of the people, he said, all 8220;powerful8221; measures must be taken to step up effective supply while curbing excessive demand. He added that the government would limit or ban foreign investment in projects that were energy intensive or highly polluting and in some areas of resource exploitation and 8220;correct illegal practices8221;. Wen said China expects a budget deficit of 25.4 billion this year, down 27 per cent from last year. He projected China8217;s Gross Domestic Product would grow at 8 per cent and rise in the Consumer Price Index should be held at 4.8 per cent as he set the targets for 2008.