Wen maps out strategy

Chinese Premier Wen Jiabao toured Huawei Technologies' UK branch during his recent official visit to the country. In remarks made during the visit, Wen said IPR, patents and standards are the hallmarks of competitiveness.

Wen said: "In China, the real economy is suffering most during the current financial crisis. Manufacturing and export-oriented regions, and original equipment manufacturing (OEM) and labor-intensive industries in particular are feeling the pain.

Boosting domestic demand should be the essential element of any strategy to tackle the crisis, he said.

Wen added that technological upgrading has an important role to play, pointing out that firms with higher quality products and intellectual property assets were more likely to enjoy higher profits.

Companies must also take steps to prevent oversupply. One measure to solve this problem is to encourage mergers and acquisitions. Only through mastering high technology, can a company build a strong foothold in the global market, he added.

(China Daily 03/02/2009 page11)