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Premier pushes for sustainable economy
Aggregated Source: Shanghai Daily: Business

PREMIER Li Keqiang yesterday called for courage and wisdom in pushing forward economic transformation and achieving sustainable growth in the long run.

Li made the remarks at an economic conference in Shanghai after his recent tour of the Yangtze River Delta region.

Li said during his tour he found the economic climate in the Yangtze River Delta region to be generally stable, but given complicated internal and external environments, latent risks remain despite the positive factors.

While maintaining steady economic growth, China should look to long-term interests to intensify efforts and foster an "upgraded version" of the economy, Li said after listening to reports from government officials of Shanghai and neighboring provinces of Jiangsu, Zhejiang and Anhui.

China has set a growth target of 7.5 percent, and it aims to double the 2010 per capita GDP and personal income by 2020.

"If we do not take the initiative to upgrade, steady growth will be hard to achieve and harder to sustain," Li said.

Li stressed the importance of boosting domestic demand, as it serves as a significant basis for sustainable development amid the constantly changing economic landscape.

In the face of growing competition, industrial overcapacity and rising material costs, China should step up its support of enterprises to boost restructuring and hasten the contributions innovation makes to the economy. During restructuring, Li said, efforts be made to unleash job opportunities in the service sector and adopt measures to push green growth to ensure that people have clean air and water and safe food.

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Copyright Shanghai Daily: Business