Premier Wen explains future economic restructuring to CPPCC meeting

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Last updated at: (Beijing Time) Saturday, October 18, 2003

Premier Wen explains future economic restructuring to CPPCC meeting

Chinese Premier Wen Jiabao outlined the future tasks to further improve the socialist market economic system when delivering a speech to a CPPCC meeting that opened Friday.

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Chinese Premier Wen Jiabao outlined the future tasks to further improve the socialist market economic system when delivering a speech to a CPPCC meeting that opened Friday.

The decision passed at the Third Plenary Session of the 16th Central Committee of the Communist Party of China (CPC) clearly defined the future tasks for China's future economic restructuring, said Wen at the Third Meeting of the Standing Committee of the 10th National Committee of the Chinese People's Political Consultative Conference (CPPCC).

The tasks include: improving the basic economic system of keeping public ownership as the mainstay of the economy and allowing diverse forms of ownership to develop side by side; narrowing the gap between urban and rural areas; promoting coordinated development of different regions; establishing a unified, open and orderly modern market system; improving employment, income distribution and social security systems; and establishing a mechanism to promote sustainable social and economic development.

The tasks showed concern for coordinated development between the economy, society and people and the combination of reform, development and stability, Wen said.

Wen spoke highly of the decision to improve the socialist market economic system, saying that it was the guideline for China's economic system reform and was of far reaching significance in promoting the reform and opening up policy as well as modernization.

The first 20 years of this century was a period of strategic opportunity and also a crucial period for further reform and opening up. Only with the promotion of reform could the socialist market economic system be improved and the task of building a well-off society be accomplished, said the premier.

Wen said the decision required a bigger role for the market in distribution of resources, enhancement of the competitive ability of enterprises, the national macro-control mechanism and promotion of the government's function in social management and public service.

The future reform should be based on coordinated development, including narrowing the gap between urban and rural areas, enhancing the harmonious development of human beings and nature, and coordinating domestic development and opening up to the outside, said Wen.

Wen emphasized five points for reform as defined in the decision, including a socialist economic system, development and innovation of the system, respect for the innovative spirit, coordination of reform, development and stability and coordination of various interest relations in reform and sustainable development.

Wen asked CPC committees and governments at various levels to take it as the primary task to study the spirit of the Third Plenary Session of the 16th CPC Central Committee. He also urged elimination of any system barriers in economic development and enhancement of leaders' ability in coordinating the relations between reform, development and stability.

The meeting, presided over by Jia Qinglin, chairman of the 10thNational Committee of the CPPCC, was to discuss issues on how to improve the socialist market economic system. Jia, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, also called for the CPPCC members to study the decision of the Third Plenary Session and made related proposals actively to the meeting.

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