Wen: Giant State firms need private investment

BEIJING - Chinese Premier Wen Jiabao pledged to adopt further measures to encourage private investment in monopoly industries to address problems with China's economic structure.

In response to economic turmoil, Wen said the government this year will further support the real economy, small-and medium-sized enterprises (SMEs) in particular, and push forward reform of monopoly industries.

The government should also better handle issues related to living standards, tackle unfair income distribution and corruption, and address public concerns about inflation and the affordability of housing, Wen said.