Government and Policy

Wen: Increasing domestic demand long-term strategy

(Xinhua)
Updated: 2010-03-22 22:34
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BEIJING - Chinese Premier Wen Jiabao said here Monday that China would steadfastly stick to the practice of expanding its domestic demand, which is considered a long-term strategy.

Though China had generally done well in combating the impact of the global financial crisis, the crisis had exposed some of China's problems, Wen told some 60 foreign delegates attending the two-day China Development Forum 2010 in the Great Hall of the People.

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The crisis actually has challenged China's mode of economic growth, Wen said, adding the shifting of the economic growth pattern need to be done urgently.

He said China's goal of economic growth last year was achieved even though China saw a 16 percent reduction in its exports, which showed that domestic demand had contributed much.

"We should shift the economy's dependence from external demand to domestic demand, and make great efforts to shorten the gaps between regions, and between urban and rural areas," Wen said.

The forum runs from Sunday to Monday and its theme is "China and the World Economy: Growth, Restructuring and Cooperation".
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