Chi­nese Premier vows to deepen re­forms

The Pak Banker - - BUSINESS -

Chi­nese Premier Li Ke­qiang said on Fri­day that China will con­tinue to deepen re­forms by stream­lin­ing ad­min­is­tra­tion, del­e­gat­ing pow­ers, im­prov­ing regulation and pro­vid­ing bet­ter ser­vices. "This will trig­ger mar­ket vi­tal­ity and in­ge­nu­ity, and will cre­ate a level play­ing field for all mar­ket play­ers," said Li when hold­ing dis­cus­sions with for­eign ex­perts work­ing in China at the Great Hall of the Peo­ple.

Li ex­tended New Year greet­ings to for­eign ex­perts and their fam­i­lies, as well as sin­cere thanks to friends from other coun­tries that have given sup­port to China's re­form, open­ing-up and mod­ern­iza­tion drive. Dur­ing the meet­ing, Li lis­tened ad­vices from four ex­perts on is­sues con­cern­ing China's eco­nomic com­pet­i­tive­ness, the "Made in China 2025" strat­egy, the train­ing of ap­plied tal­ents, China's in­dus­trial trans­for­ma­tion, and how the world could hear more of the China story.

The four ex­perts are Christo­pher Pis­sarides, holder of the No­bel Prize in Eco­nom­ics and pro­fes­sor at the Lon­don School of Eco­nom­ics, Falk Hoehn, Ger­man ex­pert on in­dus­trial de­sign and guest pro­fes­sor at He­fei Univer­sity, Jongseong Lim, Cana­dian ex­pert from China's 1000 Tal­ent Plan for High-Level For­eign Ex­perts and deputy head of the Geely Au­to­mo­bile Re­search In­sti­tute, and John Lydon, win­ner of the Pulitzer Prize and US ex­pert with China Daily. Li also re­sponded to ques­tions raised by Daniel Dudek, US ex­pert on en­vi­ron­ment pro­tec­tion, and Tat­suhito Tokuchi, a Ja­panese fi­nan­cial ex­pert, about the Chi­nese econ­omy and the yuan ex­change rate.

Li said that last year, de­spite a slug­gish world econ­omy and prom­i­nent struc­tural prob­lems fac­ing the do­mes­tic econo- my, China's GDP re­al­ized medium-high growth on the ba­sis of $10 tril­lion. New eco­nomic sec­tors and new busi­ness mod­els have been grow­ing fast, he said, not­ing the Chi­nese econ­omy is grow­ing in a more bal­anced fash­ion, and is be­ing driven more and more by do­mes­tic de­mand, in­no­va­tion, as well as the ser­vice sec­tor and the green econ­omy.

Al­though we are fac­ing some dif­fi­cul­ties and chal­lenges, China's new type of in­dus­tri­al­iza­tion, IT ap­pli­ca­tion, ur­ban­iza­tion and agri­cul­tural mod­ern­iza­tion will un­leash enor­mous de­vel­op­ment po­ten­tial and give im­pe­tus to drive world eco­nomic growth, he said. He said China is push­ing ahead with struc­tural re­form, es­pe­cially re­form on the sup­ply side.

"It is in the process of im­ple­ment­ing the strat­egy to de­velop through in­no­va­tion and of en­cour­ag­ing mass en­ter­preneur­ship and in­no­va­tion," he said. Ef­forts are be­ing stepped up to foster new de­vel­op­ment driv­ers while tra­di­tional driv­ers are be­ing up­graded and im­proved, he said.

Li said China's ba­sic state pol­icy of open­ing up will re­main un­changed. "China will bring in more tal­ents in an all-round way, and will pro­vide them with ser­vices that are more con­ve­nient and up to in­ter­na­tional stan­dards," he said. In­tel­lec­tual prop­erty will be bet­ter pro­tected ac­cord­ing to law, he said, adding that pool­ing to­gether col­lec­tive wis­dom and strength would help the Chi­nese econ­omy move away from over-de­pen­dence on nat­u­ral re­sources and be­come in­creas­ingly driven by hu­man re­sources and tal­ents. Li also hoped that for­eign ex­perts work­ing in China will con­tinue to share their ideas and in­sights with China for the ben­e­fit of com­mon de­vel­op­ment of the Chi­nese econ­omy and the global econ­omy.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.