China's Premier Discusses Economy, Social Stability in National Address

China's Premier Discusses Economy, Social Stability in National Address: "Chinese Premier Wen Jiabao says China's economy is on course for another five years of economic expansion. He also stressed the need to make the economic boom more inclusive by closing the gap between the wealthy and the poor. The Chinese leader laid out his government's economic plan in a state-of-the-union-style address at the opening of the annual National People's Congress.

Amid the pomp inside the cavernous Great Hall of the People in Central Beijing, Premier Wen Jiabao gave a sobering message about the social and economic challenges facing the nation.

Wen says China is on course for another five years of robust growth at around seven percent. But he says inflation and corruption threaten social stability and must be controlled.

Inflation has been a government concern for some time. Millions of ordinary Chinese spend half their income on food and prices are rising.

The nation's inflation rate is currently estimated at nearly five percent and some economists say it has yet to peak, despite three recent interest rate hikes to cool the economy."

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