国际英语资讯:Chinese vice premier urges boosting supply-side structural reform_时事

国际英语资讯:Chinese vice premier urges boosting supply-side structural reform

China will improve its capabilities in scientific innovation and boost development of strategic emerging sectors and modern manufacturing while transforming traditional industries with new technology and business models, he said.

The government will continue to promote entrepreneurship and the "Internet Plus" plan to meet the diverse needs of the market. Chinese companies will be encouraged to use craftsmanship to establish competitive brands that can stand the test of time, according to Zhang.

China will further reduce costs for enterprises by streamlining administration and pushing forward tax reforms, he said.

Prevention and control of financial risks will be elevated to a higher position on the government's agenda, Zhang pointed out, adding that China will manage risks in bad loans, bond default, property bubbles and Internet finance to avoid systemic financial risks.

The government will also speed up SOE reform, make concrete mixed-ownership reforms in sectors like power, petroleum, railway, civil aviation and telecommunications and open the market wider to private investment, Zhang added.

Speaking of the close and complementary ties between China and the world economy, the vice premier stressed the need to resolutely advance globalization and fight protectionism.

"China is willing to join efforts with the international community to steer the world economy toward strong, sustainable, balanced and inclusive growth," he said.