USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Macro

Economic restructuring key in building China

Xinhua | Updated: 2013-09-09 08:44

BEIJING - Chinese Vice-Premier Zhang Gaoli said on Sunday that restructuring and upgrading the economy is key in building China into a powerhouse and avoiding the "middle income trap."

Zhang said that effective use of the economic structure, innovation and science and technology-based development, as well as frugality in resource use and environmental protection should be integrated to further upgrade China.

Zhang, also a member of the Standing Committee of the Political Bureau of Communist Party of China Central Committee, made the remarks at a symposium with ministers and provincial leaders in Beijing.

The "middle income trap" refers to the risk of growth stagnates in an economy that fails to bring out its full growth potential after its development reaches the middle-income levels.

Irrational industrial structure, imbalanced development between cities and rural areas as well as among different regions are currently three major problems that should be addressed through various approaches, the vice premier said.

Zhang demanded government officials attending the symposium improve plans on outdated production capacity elimination, and stick to policies to promote the resources efficiency and protect the environment.

He pressed ministers and provincial leaders to focus more on consumption, optimize investment structure and apply innovation-driven development strategies to support economic restructuring.

Most Viewed in 24 Hours
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US