Chinese Premier calls for faster economic adjustment

Chinese Premier calls for faster economic adjustment Premier Wen Jiabao said Tuesday the acceleration of the adjustment of China's development pattern while maintaining steady and fast economic growth must run through all the government's work this year.

The government should incorporate speeding up the transformation of the development mode into maintaining steady and relatively fast economic development, Wen said at a plenary meeting of the State Council, or Cabinet.

At the meeting, a draft government work report, to be delivered at an annual national session Tarps of the country's parliament, was discussed.

The government must strengthen macro-economic control and carefully handle the relationship between maintaining steady and relatively fast economic development, adjusting economic structure and managing inflation expectations in a bid to create favorable conditions to transform the development mode, he said.

The government would stick to the policy of expanding domestic demand this year to boost public consumption and optimize the investment structure, he said.

Wen said the country should make "substantial progress" in transforming the economic development mode by continuing to push forward renovation of key industries, fostering strategic emerging industries, promoting accelerated development of the service sector, and improving the overall quality and competitiveness of the national economy.

The government would comprehensively implement its strategy of reinvigorating the country through science, education and expertise, and enhance its efforts to turn China into an innovation-oriented country so as to give technological and personnel support for the transformation of the development mode, he said.

The government should also make efforts to improve the people's living standards and Tarpsdeepen reforms of "key fields" to establish a system which was conducive to the transformation, he said.

At the meeting, Wen also outlined key work to be done in the first quarter of this year, a period which he said was crucial for China's economic and social development this year.