Which of the following statements is true according to what you hear?

Mr. Wen said government would aim for a growth rate of 7 percent this year, considerably slower than the 9.1 percent pace recorded for 2003. He said the government would reduce the issuance of state bonds intended to finance construction by about $3.6 billion, or 25 percent, and would also restrain lending and investment that has led to "redundant construction in some industries and regions."

Recent years have seen a dramatic shift in the composition of capital flow to emerging market economies. In light of the evidence on the advantages of different kinds of capital, the change looks like one for the better. Bank lending has fallen sharply. Portfolio investment has gone up and foreign direct investment has soared despite the difficulties in expanding it as quickly as many countries would wish.