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Innovation key to battle fiscal crisis

PREMIER Wen Jiabao has encouraged domestic enterprises to make breakthroughs in science and technology development to weather the global financial crisis.

Wen made the remarks during his inspection tour in east China's Shandong Province over the weekend.

It was his fourth consecutive weekend inspection tour outside Beijing this month.

Wen said the government would continue a proactive fiscal policy and moderately ease monetary policy and make it a top task to keep a steady economic growth.

In JinJing Group, China's first glass-making company with a history of 105 years, Wen was pleased to see the firm had gained steady sales increase with its independently developed new products amid the global downturn.

Wen said technological breakthroughs were fundamental and long-term solutions which should be relied on to fight against the economic downturn.

He urged enterprises in Shandong to provide a better environment for young talent to contribute to technological development.

Exporters hit

When inspecting Jigang Group, Wen urged the steel maker to improve competitiveness by carrying out technological innovation, cutting costs and developing energy-efficient products.

Wen also visited privately owned Shandong Weiqiao Textile Company, the largest cotton textile enterprise in Asia with more than 150,000 employees.

He said China's textile industry, which was strongly affected by export markets, had encountered many difficulties caused by the global financial crisis.

Wen urged increased efforts to create an environment of fair competition.

"It is a must to attach importance to the development of private businesses and private fund investment in an effort to deal with the financial crisis and boost economic growth," he said.

Wen said coping with the financial crisis and overcoming difficulties in economic development both served the purpose of improving people's livelihood and better development of individuals.

Only when people's lives were improved and secured, would economic development have true meaning.


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