China's retail sales to grow 11 pct annually: plan

Chinese economic officials have set a target of at least 11 percent annual growth for retail sales from 2006 to 2010.

The growth rate of capital goods sales value will average at least 11 percent annually in the coming five years, according to the first Ministry of Commerce five-year plan for commerce.

Under the plan, China will endeavor to balance trade with imports and exports set to reach 2.3 trillion U.S. dollars by 2010, with an annual growth of about 10 percent.

The service trade is expected to grow by 20 percent annually to 400 billion dollars.

The target aggregated overseas direct investment until 2010 will amount to 6 billion dollars with more Chinese companies exploring opportunities abroad.

Source: Xinhua