DAVOS, Switzerland, Jan. 28 (Xinhua) -- China will transform its current growth pattern and explore a new development model in the post-crisis era, Chinese Vice Premier Li Keqiang said here on Thursday.
"As we stand at a new historical juncture, we must change the old way of inefficient growth and transform the current development model that is excessively reliant on investment and export," Li said in a keynote address to the annual World Economic Forum held at the Swiss ski resort.
China needs to follow the scientific outlook on development, accelerating transformation of economic growth pattern, intensifying strategic adjustment of economic structure and endeavoring to explore new development models, he told the audience.
The vice-premier illustrated his points in three aspects.
First, China will focus on boosting domestic demand to drive economic growth.
"We will strive to expand domestic demand, especially consumer demand," Li said.
China will "make every effort" to increase employment, speeding up improvement of the social safety net, adjusting national income distribution structure, increasing income of the low and middle income groups and working to ensure sustained increase in consumer spending.
"At the same time, we will optimize investment structure and continue to improve investment returns," he said.
Li noted that China's fast urbanization has boosted domestic demand.
China needs to continue to advance that process, he said, so that "there will emerge a pattern of balanced development of large, medium, small-sized cities and small towns, and parallel development of city belts along the coast and city clusters in the central and western parts of the country."
Second, China will rely on technological innovation, energy conservation and emissions reductions to promote industrial restructuring and upgrading.
"Adjustments of the world economy and upgrading of China's domestic consumption structure require us to optimize and upgrade our industrial mix," Li said.
China must adapt to markets needs, encouraging innovation of enterprises and being supported by technological progress, he said.
"Efforts need also be made to protect intellectual property rights."
China is committed to voluntary energy conservation, emissions reduction and greater restructuring, the vice premier said.
"We need to place more emphasis on saving energy, increasing efficiency and protecting the environment," he said.
China will speed up development of green economy, circular economy and low-carbon economy, Li said.
"We will actively tackle climate change and make sure that China's economic growth is resource efficient and environment friendly," he added.
Thirdly, China will deepen reforms and open wider to the world.
"Refrom and opening-up provides the driving force and effective guarantee of China's long-term, steady and fast economic growth," Li said.
China will "unswervingly" advance institutional innovation, staying committed to market-oriented reform, and pressing ahead with other reforms to "allow the market to better primary role in allocating resources," he said.
Meanwhile, Li said that China will shift functions of the government, deepening reform of state-owned enterprises, promoting non-public sector of the economy to strengthen "the inherent dynamism of economic growth."
He noted that implementation of the opening-up policy over the past 30 years and more "has closely integrated China with the world, enabling it to bring in advanced technologies, managerial expertise and high-caliber talents from all over the world and draw on the fine achievements of other civilizations."
The policy has made it possible for China to realize fast economic growth and contribute its share to the growth of the world economy, the vice premier said.
At the same time, he said, opening-up has enabled the world to share the benefits of China's development and has brought about win-win results.
"We will remain committed to the win-win strategy of opening up."
China, the vice premier said, will accelerate the change of trade growth pattern, innovating on ways of using foreign investment and making outbound investment, and striving to achieve common development with other countries around the world.
Li arrived in Switzerland on Monday for a four-day official visit, including attendance at the economic forum.
Related:
Chinese vice premier's speech at Davos forum adds impetus to world economic recovery
 |
| Chinese Vice Premier Li Keqiang delivers a speech in the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, Jan. 28, 2010. (Xinhua/Xie Huanchi) |
DAVOS, Switzerland, Jan. 29 (Xinhua) -- Chinese Vice Premier Li Keqiang's speech at the World Economic Forum here Thursday added fresh momentum to the world economic recovery by outlining China's encouraging economic prospects and calling for international efforts to boost economic activity.Full story
Chinese leader urges efforts for sound recovery, sustained development of world economy
DAVOS, Switzerland, Jan. 28 (Xinhua) -- Chinese Vice Premier Li Keqiang on Thursday called for international efforts to promote the sound recovery and sustained development of the world economy in the post-crisis era.Full story
Highlights of Chinese vice premier's visit to Switzerland
BEIJING, Jan. 29 (Xinhua) -- The following are highlights of Chinese Vice Premier Li Keqiang's visit to Switzerland on Thursday, when he attended this year's World Economic Forum (WEF) annual meeting in Davos.Full story
Quotable quotes of Chinese vice premier at Davos
BEIJING, Jan. 29 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang on Thursday delivered a keynote speech at the annual meeting of the World Economic Forum in the eastern Swiss ski resort of Davos.Full story
