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Premier: Keep momentum for better growth

Updated: Nov 8,2017 9:40 PM     english.gov.cn

Premier Li Keqiang chaired a symposium with economists and entrepreneurs on Nov 7, to discuss economic work following the 19th National Congress of the Communist Party of China (CPC).

Attendees shared their views on structure adjustment, mass entrepreneurship and innovation, risk prevention, industrial clusters and sharing economy at the event.

They agreed that the economy is maintaining a stable and positive momentum, with improved structure, stronger driving force and higher quality. They also applauded the government’s efforts in delegating power and promoting innovation.

Premier Li listened to their suggestions and shared his views. He said the country’s economy is better than expected this year, which is an effective response to some opinions stating that it will suffer a “hard landing”.

While affirming the achievements, he acknowledged that instability and uncertainty still exist in external environment, structural contradictions in domestic economy and other risks should not be ignored.

“We should be prepared for crisis, maintain continuous, healthy economic development while tackling challenges,” Premier Li added.

He urged that strategies proposed in the 19th CPC National Congress should be firmly implemented, and called for more efforts in supply-side reform by promoting the initiatives of “Internet Plus” and “Made in China 2025”.

The Premier also said new driving engines of the economy should be fostered rapidly and backward capacities be eliminated through legal and market-oriented means such as technology, environmental protection and quality standards.

Next year’s work plans should be in accordance with the goal of building China into a moderately prosperous society, fully implementing the plans set forth at the 19th Party Congress, said the Premier.

He stressed on the continuity and stability for macro policies, and urged deepening reform and opening-up while further cutting taxes and fees to lower institutional transaction costs. The market will decide the allocation of resources and the government will play a better role, said the Premier.

“We should encourage more market players to innovate and become more entrepreneurial, take the innovation and entrepreneurship to higher level and more integrate Chinese economy into the world while preventing the potential economic risks,” he said.

Reform and development is for the people, and human resources are the biggest potential for China’s future economic development, said the Premier.

In recent years, all kinds of reform policies, such as simplifying administration and delegating powers, have helped to improve the climate for encouraging innovation and entrepreneurship, bringing talents into play and relieving the pressure on employment, he said.

“Using people’s creativity not only creates more value, but also help them achieve their pursuits, thus promoting the continuous and healthy development of the Chinese economy,” he added.

Vice-Premiers Zhang Gaoli, Wang Yang, Liu Yandong and Ma Kai, and State Councilors Yang Jing and Wang Yong attended the event.

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