Premier Li stresses effective policies, more reform to stabilize economy

Premier Li stressed insisting on reform and opening-up to fully inspire the vitality of market entities and enhance development resilience.

He added that reforms to streamline administration, delegate powers and improve the business environment should be deepened to let the market play a decisive and bigger role in resources allocation and better fulfill the government’s role.

He also called for more efforts to improve innovation and the start-up climate, attract more talent, boost the industrial internet, create more new business models through the integrated development of large, medium and small enterprises, and to cultivate new strengths to participate in international competition and cooperation with more opening-up.

More reforms are needed to release consumption potential, such as expanding sales of agricultural products and domestic consumption of export-oriented products through online and offline integration, enriching the supply of quality commodities and guiding consumption upgrades, the Premier said.

Government investment should play a role to drive the participation of social capital, promote construction of major projects - especially new infrastructure and new urbanization initiatives and major projects - to increase employment with effective investment, he added.

Vice-Premier and member of the Standing Committee of the Political Bureau of the CPC Central Committee Han Zheng, Vice-Premiers Sun Chunlan, Hu Chunhua and Liu He, State Councilors Wang Yong and Xiao Jie, and He Lifeng, head of the National Development and Reform Commission, also attended the symposium.