Supply-side reforms put on display
Two pink robots, singing the pop song Little Apple and dancing, caught the spotlight at a meeting attended by hundreds of foreign diplomats and entrepreneurs in Beijing on Thursday touting the nation’s move to supply-side reforms.
The robots, a symbol of innovation and new technology, were displayed at the International Department of the Central Committee of the Communist Party of China to show the achievements the CPC has made in its pursuit of innovation-driven growth and five-year push forward with supply-side reforms.
Bert Hofman, the World Bank’s country director for China, said at the meeting that thanks to the country’s opening-up policy, China has developed from an impoverished country decades ago to one of the world’s richest nations today.
H of man spoke highly of China’s ongoing reform, saying the country has removed overcapacity while innovating technologies, which could make contributions worldwide.
“We can all benefit. We will have new medical techniques; we will have a new modes of transport; we will have clean energy,” he said.
Zinaida Greceanii, chairwoman of the Party of Socialists of the Republic of Moldova, said China has set an example for the world in pushing forward reforms and maintaining balanced development.
Mentioning her trip in Central China’s Hubei province, Greceanii said the local government has made amazing achievements in agricultural development, science and technology, urban construction and infrastructure.
Song Tao, minister of the International Department of the CPC Central Committee, said in a speech that supplyside reform is an important economic theory proposed in China by President Xi Jinping that aims to keep the country’s economic growth at medium to high speed while upgrading the industries to higher levels of products and production.
Noting that the economic growth has been a hot topic in recent years, Song said that firmly pushing forward with reforms has been the key to successful economic policies.
Supply-side reforms are not a shortcut for faster economic growth through a policy of simple stimuli, he said, but instead focus on longterm reforms that could benefit both China and neighboring countries.
Jiang Chaoliang, secretary of the CPC Hubei provincial committee, said that by pushing forward with reforms, the local government has streamlined its economic structure and improved people’s livelihoods.