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China's gross domestic product (GDP) is estimated to exceed 20 trillion yuan (about US$2.56 trillion) this year, up 10.5 percent over 2005, said Ma Kai, minister of the State Development and Reform Commission (SDRC), on Saturday.

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Addressing the national development and reform working conference, Ma said that the country's economy has been developing this year fairly fast with good efficiency and low inflation. Stable economic operation has benefited the people and will power future development.

"Judging from the investment side, the energy consumption for unit GDP dropped somewhat; from the output side, the fiscal income is expected to grow by about 20 percent and profits of large enterprises to rise by 30 percent; from the structural side, there have been many positive changes in industrial restructuring," he said.

He said that the Chinese people have benefited well from the steady and fast economic development. The SDRC projects that newly increased job opportunities could pass 10.5 million for the whole year, exceeding the 9 million planned figure at the beginning of the year.

The per capita net income for farmers and urban residents is expected to grow by 6 percent and 11 percent, respectively. The consumer price index will rise by 1.3 percent.