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Chinese Premier Calls for Faster Economic Adjustment
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09:19AM
Source:SMM

BEIJING, Jan. 20  -- Premier Wen Jiabao said Tuesday the acceleration of the adjustment of China's development pattern while maintaining steady and fast economic growth must run through all the government's work this year.

The government should incorporate speeding up the transformation of the development mode into maintaining steady and relatively fast economic development, Wen said at a plenary meeting of the State Council, or Cabinet.

At the meeting, a draft government work report, to be delivered at an annual national session of the country's parliament, was discussed.

The government must strengthen macro-economic control and carefully handle the relationship between maintaining steady and relatively fast economic development, adjusting economic structure and managing inflation expectations in a bid to create favorable conditions to transform the development mode, he said.

The government would stick to the policy of expanding domestic demand this year to boost public consumption and optimize the investment structure, he said.

Wen said the country should make "substantial progress" in transforming the economic development mode by continuing to push forward renovation of key industries, fostering strategic emerging industries, promoting accelerated development of the service sector, and improving the overall quality and competitiveness of the national economy.

 

China economy macroeconomy
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