China needs to upgrade economy: Premier
                 English.news.cn | 2013-07-10 01:51:10 | Editor: yan

CHINA-LI KEQIANG-ECONOMIC SYMPOSIUM (CN)

Chinese Premier Li Keqiang addresses a symposium on the economic situation of a number of provinces and regions in Nanning, capital of southwest China's Guangxi Zhuang Autonomous Region, July 9, 2013. (Xinhua/Ma Zhancheng)

NANNING, July 10 (Xinhua) -- China is in a phase when it must rely on economic transformation and upgrading to maintain continuous and healthy development, said Premier Li Keqiang on Tuesday.

"It is very important to plan as a whole the need to stabilize growth, promote economic restructuring and advance reform at this stage," Li said while presiding over an economic meeting in south China's Guangxi Zhuang Autonomous Region.

Through stabilizing growth, we can create room and conditions for restructuring, while restructuring in turn unleashes potential for economic growth. The two will receive an added impetus from reform as it will help clear obstacles, Li said.

During the meeting, Li called for more efforts to promote the integration of industrialization and information technology application, and promote new-type urbanization that puts people first.

The country should strengthen its restructuring efforts through developing the service industry, eliminating backward production capacity and renovation, Li added.

He said that China must quicken its reform in the areas of administration, taxation, finance and pricing with the aim to let the market mechanism play a better role, make private investment more active and the market more vigorous.

More support will be channeled to the central and western part of the country, especially the poverty-stricken areas, Li said, adding that the more affluent eastern part should strive for development at a higher level through economic transformation and upgrading.

Regardless of their differences, the country's east, west and central areas should all prioritize the improvement of people's livelihood and welfare in their pursuit of development as development means to satisfy and bring benefits to the people, Li said.

Related: 

China eyes energy-saving, IT industries to spur domestic demand

BEIJING, July 12 (Xinhua) -- China is to speed up development in the energy-saving industry and promote consumption of IT-related products and services as it looks to spur domestic demand and push economic upgrading.

Stimulating growth in the two sectors is a multi-purpose approach aimed at easing resource restraints, unleashing consumption potential, stimulating effective investments and fostering emerging industries, according to a statement released after an executive meeting of the State Council presided over by Premier Li Keqiang on Friday. Full story

China's economic transformation a boon for U.S.: analysts

BEIJING, July 12 (Xinhua) -- As China and the United States are seeking to cast a new relationship model, the latter needs to be more prepared for a Chinese economic transformation that could create massive opportunities instead of threats, analysts have said.

Concluding on Friday in Washington, the two-day annual U.S.-China Strategic and Economic Dialogue (S&ED) saw much exploration of new cooperative opportunities for the world's two biggest powers. Delegates pointed out that the two economies are at pivotal junctures, with China slowing to restructure and the United States gradually recovering from a contraction. Full story

Premier calls for courage, wisdom in upgrading economy

SHANGHAI, March 29 (Xinhua) -- Premier Li Keqiang on Friday called for greater courage and wisdom in pushing forward economic transformation and upgrading to achieve more sustainable growth in the long run.

Li made the remarks at an economic work conference in Shanghai after conducting a research tour in the Yangtze River Delta region.  Full story

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