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China To Intensify Reforms, Opening-up To Boost Growth

Chinese Vice-Premier Li Keqiang has vowed that the Communist government will intensify reforms and opening-up to boost growth and economic and social development.

He was delivering keynote address at the opening of the Boao Forum for Asia (BFA) annual conference held in Boao in the southern island province of Hainan on Monday.

"Faced with the profound changes in international and domestic landscapes, we must let reforms and opening-up continue to lead the way in removing the institutional obstacles that hamper the shift of the growth model," China's state-run Xinhua news agency quoted him as saying.

The government plans to implement reforms in the fiscal, taxation, finance, pricing, income distribution and enterprises sectors.

The country will work hard to make breakthroughs in key areas and key links, and bring into better play the market's role in resource allocation and advance institutional, technological and management innovation so as to increase the internal driving force and dynamism of development, Li told the delegates.

He said more intensive proactive opening-up strategy and paying equal importance to export and import were necessary to boost balanced development of foreign trade and raise the level of an open economy.

Li insisted on Beijing's commitment to create an "open, transparent, fair, competitive and predictable marketplace and legal environment." More thrust will be given on intellectual rights protection so as to create an environment that is friendly to all enterprises in China.

More than 2,000 delegates from various governments, and business and academic communities are attending the three-day international conference.

BFA Conference 2012 adopts the theme "Asia in the Changing World: Moving toward Sound and Sustainable Development."

by RTTNews Staff Writer

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