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Hu urges to boost domestic demand
By Han Lei (chinadaily.com.cn)
2007-10-15 11:26


President Hu Jintao Monday called for increasing domestic demand, particularly consumer demand to drive the further development of the economy.

The country should propel three transitions in the mode of economic growth, Hu, also general secretary of the Central Committee of  Communist Party of China, said in a report at the opening ceremony of the 17th Party Congress in Beijing.

Firstly, China should transit from mainly relying on investment and export to relying on the well coordinated combination of consumption, investment and export, according to Hu.

He then suggested a transition from secondary industry serving as the major driving force to primary, secondary and tertiary industries jointly driving economic growth.

The third transition is from relying heavily on increased consumption of material resources to relying mainly on advances in science and technology, improvement in the quality of work force and innovation and management, Hu noted.

The country should encourage formation of internationally competitive conglomerate, Hu said, calling for the acceleration in the development of a modern energy industry.

The top leader went on to urge to promote the upgrading of industrial structure this is a pressing strategic task vital to the economy as a whole.

China should also upgrade new-, and high- technology industries and develop information, bio technology, new materials, aerospace, marine and other industries, Hu said.

He also demand to ensure the quality and safety of products.

 

  Hu Jintao -- General Secretary of CPC Central Committee
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