SCIO briefing on national economic performance in 2014
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E-mail China.org.cn, January 20, 2015
Xinhua News Agency:
In the release just now, you mentioned that the next stage will target improvements in the quality and efficiency of economic growth in addition to giving greater importance to structural adjustment and the shift in growth mode. What measures will be taken to accomplish these goals? Thank you.
Ma Jiantang:
This is a big issue and an important task. Despite the fact that China's economy has expanded at a quick pace over the past few decades and that people's quality of life has been constantly improving, we still see that the quality of our economic growth leaves something to be desired. In future, especially in the13th Five-Year Plan period, we should put more energy into shifting our growth mode and adjusting our economic structure. How will we shift the growth mode and adjust the structure? We should propel structural transformation, better develop service industry and better foster our information industry.
First, enterprises form the backbone of an economy and the fabric of the market, so they are key players in shifting the growth mode. As long as millions of enterprises keep adjusting their product portfolios and applying new technologies and Internet technology, they will gain a better competitive position. The behavior of enterprises lays the foundation for the macro shift in growth mode. We should promote enterprise reform and encourage enterprises to keep innovating under market conditions.
Second, there is the strength of the market. The goals of shifting the growth mode and adjusting the economic structure were not set recently. China's socialist market economy with Chinese characteristics, the marketplace, market stimulus, market competition and the rule that "the fittest survive" inject impetus into economic growth, the shift in the growth mode and structural adjustments. We should further reduce interference, expand market access and let the market play a decisive role in resource allocation.
Third, there is the guidance of the government. If macro control policies are crucial to maintaining economic growth, industrial policies made by the government are also key to structural adjustment and to promoting the transformation and upgrading of China's economy. The government should steer industrial development through optimization and should formulate appropriate economic policies to guide enterprises to shift their modes and make adjustments. Mode here means mode of production, mode of distribution, and mode of consumption. The task of shifting modes and making adjustments is not only the responsibility of producers but also of consumers, who are guided by price. [People's concept of what constitutes] necessary goods and desired goods is guided by prices. In a nutshell, the shift in mode and adjustments to the economic structure form a key link allowing the Chinese economy to move from a middle- and low-end economy to a middle- and high-end economy. It is also an important task requiring joint efforts. I believe that as long as we follow this path, the Chinese economy will maintain its growth while continuing to streamline its structure and upgrade its model. Thank you!
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