Chinese premier stresses boosting market vitality

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Chinese Premier Li Keqiang on Wednesday called for boosting market vitality and social creativity to promote sound economic growth.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks at a teleconference on issues including deepening reforms to streamline administrative approval, delegate power to lower levels, and improve regulations and services.

Vice Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, presided over the meeting.

China’s economy generally sustained a steady recovery this year, but the domestic and external environment remains complicated and grim, Li said.

Macro policies and further reforms should be employed to help market entities achieve further recovery, beef up the driving forces of economic growth, and keep economic operations within a rational range, Li said.

Efforts should also go into creating a market-oriented, law-based, and internationalized business environment, Li said. He stressed treating all types of market entities equally.

Li also underlined combating monopolies and unfair competition and protecting the legitimate rights and interests of market entities, small and micro firms and individually-owned businesses in particular.