Chi­nese premier Li calls for more in­no­va­tion in Asia

The Pak Banker - - 6BUSINESS -

BEI­JING: Chi­nese Premier Li Ke­qiang on Thurs­day said Asia should take ad­van­tage of hu­man re­sources to pur­sue an in­no­va­tion-driven growth model. Speak­ing at the 2016 Boao Fo­rum for Asia, Li said Asia needs to count on its some four bil­lion peo­ple to achieve sus­tained pros­per­ity and devel­op­ment.

"Asia will have a new fu­ture only when we have in­no­va­tion and skilled peo­ple," Li told the fo­rum in Boao, South China's Hainan prov­ince. The premier said the re­gion has achieved a "mir­a­cle" thanks to the dili­gence and in­tel­li­gence of the peo­ple and should make more use of those qual­i­ties.

In­no­va­tion is one of the key prin­ci­ples in China's pur­suit of an eco­nomic tran­si­tion from growth driven by in­vest­ment and ex­ports to growth led by con­sump­tion. Li said that the re­gion should try to raise pro­duc­tiv­ity of the la­bor force through ed­u­ca­tion and train­ing, and in­crease in­vest­ment in re­search and devel­op­ment. "We should make use of new mod­els such as the In­ter­net Plus. We should build plat­forms for in­no­va­tion co­op­er­a­tion and en­cour­age the shar­ing of best prac­tices ... to in­volve the general pub­lic, es­pe­cially young peo­ple," he said.

"This will help coun­tries in our re­gion to em­bark on a path of devel­op­ment driven by in­no­va­tion and growth led by up­grades," he said. Mean­while, Premier Li Ke­qiang on Thurs­day high­lighted the im­prove­ment of peo­ple's liveli­hood in ar­eas in­clud­ing em­ploy­ment, ed­u­ca­tion, med­i­cal care, old-age care and hous­ing. Achieve­ment in devel­op­ment should be man­i­fested in the im­prove­ment of liveli­hood, which in turn fu­els con­sump­tion and eco­nomic growth, Li said. He made the re­marks here while de­liv­er­ing a speech at the open­ing cer­e­mony of the 2016 an­nual con­fer­ence of the Boao Fo­rum for Asia in China's Hainan prov­ince.

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