BEIJING - CHINA could boost a four trillion yuan (S$905 billion dollar) stimulus package if it proves inadequate in boosting growth during the global financial crisis, the nation's top planner said on Friday.

'Whether we want to increase investment, the decision will be based on the development of the situation,' Zhang Ping, head of the National Development Reform Commission, said on the sidelines of an ongoing parliamentary session.

'Whether or not (the package) is enough, we have said we need to see how the situation develops, whether or not we take new measures will be decided by carefully watching changes in the situation.'

Since China adopted the two-year package during the fourth quarter of 2008, several economic indicators were already showing positive signs, but it was too early to conclude that the stimulus package was adequate, he said.

In his annual report to parliament on Thursday, Prime Minister Wen Jiabao said China was confident of overcoming the global financial crisis, but warned that it posed 'unprecedented difficulties and challenges' to the nation.

China would strive to maintain a 'fast and steady' eight percent economic growth rate in 2009, with massive social spending targeting the impoverished rural areas and the export sector, he said.

Mr Zhang further added that the stimulus package would help upgrade 10 key industrial sectors and expand infrastructure spending in roads, railways, energy conservation and environmental protection.

China will publish key macroeconomic data for January and February next week, providing the first full picture of how the economy has fared so far in 2009. -- AFP