Importance of maintaining economic growth stressed

(Xinhua)
Updated: 2008-12-16 10:56

BEIJING - Chinese Vice Premier Li Keqiang stressed the importance of maintaining stable and healthy economic growth through domestic demand expansion and economic restructuring on Saturday.

Addressing a national conference of economic planners concluded here Saturday, Li said China's economy was in face of a grim situation due to the global financial crisis, but the fundamentals and long-term trend of the country's economic development were unchanged.

The economic development was the foundation for solving all problems, Li said, noting that as the central government had pointed out, priority should be given to maintaining stable and relatively fast economic growth next year.

This would be achieved through expanding domestic demand, restructuring the economy and transforming the growth pattern, Li said. All would ultimately target improving people's living standard.

He urged local governments to encourage social investment to sustain economic growth, take measures to maintain stable growth in export and step up studies on the global economy to enhance capacities for prevision.

Economic restructuring was an effective way to deal with current global financial crisis, Li said, adding that efforts should be made to ensure employment, improve people's living conditions and encourage technological innovation.

He emphasized the importance of developing the tertiary industry which could absorb large amounts of workers and energy-saving industries which could sustain the country's growth.

He urged the authorities to let the market play a fundamental role in the allocation of resources and step up innovation in corporate management.