The story appears on

Page B2

August 26, 2009

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Economy

NDRC promotes restructuring

CHINA needs to promote economic restructuring while maintaining a high growth rate, according to a report submitted yesterday to lawmakers.

The report was delivered by Zhang Ping, head of the National Development and Reform Commission, the top economic planning agency, to the 10th session of the Standing Committee of the 11th National People's Congress, the top legislature.

In a separate report delivered at the same session, Zhang said China's economic recovery was still unstable and unbalanced despite "positive changes" in the economy, echoing similar comments made by Premier Wen Jiabao a day earlier.

Zhang said falling exports had dealt a heavy blow to the economy, and external demand remained weak with other countries still in recession.

But he encouraged the country to push ahead with reforms.

"The country should continue to promote economic restructuring and change its growth mode while it strives to maintain a high growth rate," Zhang said in the report.

Policy support was necessary in the current economic climate to encourage firms to innovate, restructure and strengthen management, Zhang said.

"Accelerating the transition of the country's growth mode and structural readjustment is directly linked to the country's ability to stand out amid increasingly fierce global competition, achieve sustainable development, and maintain social stability in the long run," Zhang said.

China will push reforms in income distribution, fiscal and tax systems and pricing of resource products.

The government will also improve the assessment of officials. This will be achieved by putting more weight on performance in improving people's living standards and ensuring quality economic growth.

Zhang said in the report that the government will continue industrial restructuring and stimulus plans and urge firms to innovate in key technologies, with financial support pledged.

The government will continue to conserve energy and curb emissions and pollutants, Zhang said.

It will focus on narrowing the income gap between urban and rural residents and between western and eastern regions in a bid to expand domestic consumption, he said.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend