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Premier Li urges more efforts to develop real economy

Updated: Apr 9,2017 7:18 AM

The State Council executive meeting presided by Premier Li Keqiang on April 5 laid out key tasks for the economic reform in 2017, and stressed efforts to streamline administration and optimize services to build a good environment for the real economy.

Real economy is a phrase that was mentioned by Premier Li seven times in this year’s Government Work Report, sending a strong signal of the government’s determination.

According to the Premier, the government should lower access threshold for the industrial sector to promote the real economy and develop advanced manufacturing.

“That is what the government should do,” said Premier Li. Except certain industries, all the unnecessary permits should be removed to keep growing industrial investment, and optimize the environment for the real economy, he added.

Government at every level should conduct effective market supervision to promote fair market competition, and safeguard normal market order for the real economy.

In addition, the motivation of market players should also be mobilized to improve the efficiency and competitiveness of the real economy.

Producer services, said Premier Li, drive the upgrade of the real economy, which is the trend of the market and requirement of consumers.

As the foundation of national economy, real economy should satisfy consumers’ needs, and survive fierce international market competition through constant upgrades.