Li calls for fostering new engines of growth

Premier Li Keqiang has underlined the importance of fostering new growth engines and expanding effective investment to stabilize economic growth and the job market.

The country will continue with a proactive fiscal policy and a prudent monetary policy, Li said as he presided over a symposium on the economy on Monday.

Li called for efforts to create favorable conditions for more successful, private unicorn startups, high-growth gazelle companies and new champions and to accelerate the transition between old and new growth engines. Unicorns are privately held startups valued at over $1 billion; gazelles are fast-growing, often small and high-tech businesses.