"Stimulating the development of consumer spending, investment and exports may be the core issues in achieving this," said Liu.

The municipality will spare no efforts to further stimulate the domestic demand, which should be supported by an increase in individual income.

"We plan to push Beijingers' average income up by 5 per cent this year through the creation of more job opportunitiest," Liu said.

Sources from the Beijing Statistics Bureau said the average salary for workers and staff members in Beijing reached 18,640 yuan (US$2,245) last year, 2,290 yuan (US$276) more than in the previous year. Meanwhile, the per capita GDP exceeded US$3,000.

Fixed assets investment is expected to surge swiftly, thanks to the launching of a group of key projects - projects for the 2008 Olympic Games, infrastructure construction, old house renovation and traditional enterprise upgrading.

"We decided to use BOT (build, operate and transfer), project fund-raising and operation rights transfer methods to attract more foreign and domestic investment into such fields," Liu said.

For the export sector, in addition to further expanding markets in the European Union, Japan, Southeast Asia and North America, the municipality's export-orientated enterprises are encouraged to explore the business opportunities in Russia, Central Asia, Central and East Europe as well as Latin America.

(China Daily February 17, 2002)