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New engines boost China’s economic development

Updated: Mar 2,2016 2:23 PM Phoenix News

Premier Li Keqiang visits Webank, China’s first Internet-based banking service, in Shenzhen, Guangdong province, on Jan 4, 2015.

With the rapid growth of modern society, and new things and new concepts emerging, finding a way to deal with them has become a key issue.

And for Premier Li Keqiang, “new” is a word that was frequently mentioned, and he always expressed great interest in new things and supported their growth and development.

The topic of the first State Council seminar hosted by the Premier after he took office was advanced manufacturing and 3D printing technology, and he encouraged attendants to combine the new concepts with government functions.

He once clearly declared that technology-oriented new business models and new industries should attract great attention.

The Premier also recognizes emerging new business industries such as e-commerce and delivery as challenges and an opportunity for government work. He said the government should improve administration standards and balance the relationship of “relaxing” and “regulating” powers.

New things often bring development opportunities, and the Chinese economy should create new drives and growth engines.

The Premier first proposed the concept of a “new economy” at a State Council executive meeting on Feb 3, calling on the government to develop the new economy and giving more policy support for sectors related to new growth drives, new industries and new business models.

He also cited new energy vehicles to further elaborate on the new economy at a State Council executive meeting on Feb 24, saying the development of new energy vehicles in recent years showed that the new economy is driving new development now.

The government has high hopes for the new economy, and as the Premier said, as long as we develop the new economy and create new driving forces, China’s economy will have a bright future.