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May 25, 2014

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Xi: Shanghai has key role in reform

PRESIDENT Xi Jinping has urged Shanghai to push forward with its reforms, pursue scientific development and improve its competitiveness.

Xi was speaking during a two-day inspection tour in the city — which ended yesterday — after attending the Conference on Interaction and Confidence Building Measures in Asia.

He visited the free trade zone, saying the decision to build the zone was an important step in China’s reform and opening up in modern times.

Xi was told on Friday afternoon that more than 16,000 companies employing 280,000 people have moved to the zone in the past eight months, which have seen transparency of investment management, convenience of trading, financial innovation and reform of governmental administration.

The president stressed that the free trade zone is a large pilot that needs careful management. That management should combine structural reform and the exploration of new methods, while controlling risks and gradually making improvements, Xi said.

Institutional innovation should be focused on the creation of a fair and efficient international business environment, the president said.

Risk control is the bottom line to guarantee the process of building the zone, and the demands of businesses for institutional improvement should be emphasized, he said.

Xi also visited a cultural trade center in the zone and called on workers there to contribute more to the development and promotion of the country’s cultural industries.

After leaving the zone, Xi visited the design and research center of state-owned Commercial Aircraft Corporation, praising its technological breakthroughs since its formation in 2008.

China’s C919 passenger aircraft was designed by the COMAC. Xi said that the research and production of large airliners represent the competitiveness of a country’s aviation industry and demonstrate the national power.

Yesterday, Xi visited a medical science company and an automobile firm, and expected more independent intellectual property rights and innovation from Chinese enterprises.

He called for increased production of modern medical equipment and faster development of new-energy vehicles.

Xi said that technological innovation is a pillar in improving China’s strength and boosting reforms.

The country must strive for breakthroughs in advanced technologies and take opportunities to update industrial structures, and improve the system of applying for and protecting intellectual property rights, he said.

Xi urged Shanghai to lead the country in cultivating and practicing the socialist core values and promoting the values into people’s daily life.

He also stressed Shanghai’s role in bolstering exchanges and cooperation in the Yangtze River Delta, and called on the city to continue enhancing regional cooperation and integration and achieving fast economic growth.


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