英闻天下——1 China to Step up Reforms & Achieve Quality Growth

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Chinese vice-premier Li Keqiang has delievered a new speech, saying we can expect to see more reforms to create quality and efficiency in economic growth in the coming year.

 

Li Keqiang has made the pledge at a symposium¹ on economic and social work in Beijing.

 

The vice-Premier says government officials have to ensure ordinary people's incomes keep up with the broader economic expansion.

 

"We must make sure the individuals' incomes to be increased with the economic growth since people are more concerned about their own pockets compared to GDP growth. It is meaningless to have a fast GDP growth but a low income level for ordinary people."

 

Li Keqiang is also promising² more job opportunities in the coming year and an increase in domestic demand through urbanization.

 

"It is agreed at the meeting that urbanization is the largest potential in promoting domestic demand. So how to make full use of the potential? I believe reform is needed. It would no doubt affect the interests of some government key sectors³. But we must carry out the reform despite any obstacles."

 

Li Keqiang says the government is going to make changes to the household registration⁴ system to try to help beef up urban demand.

 

He has also suggested an expansion of the value-added tax pilot program to more regions in the coming year.

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