Promote Sound, Sustainable and Quality Development
--Speech by Wen Jiabao Premier of the State Council of the People's Republic of China at the World Economic Forum Annual Meeting of New Champions 2011
Dalian, 14 September 2011
Professor Klaus Schwab, Executive Chairman of the World Economic Forum,
Ladies and Gentlemen,
I wish to extend warm congratulations on the opening of the fifth Annual Meeting of the New Champions, or the Summer Davos, and a sincere welcome to you all. It's been five years since the launch of the Summer Davos. In these five years, the Summer Davos has set a clear objective for itself, that is, it is a forum for the world, for the future, for innovation and for the youth. The diverse forms of discussions conducted during the forum are lively and vibrant. In particular, during the difficult times of the financial crisis, the forum sent out a message of hope and brought confidence and courage to the world. The theme of this year's meeting - Mastering Quality Growth - represents people's shared desire for robust, sustainable and balanced economic growth, and I wish the meeting a great success.
Three years have passed since the outbreak of the international financial crisis. International organizations, governments, the business communities and the academia are all taking a hard look at the root causes of the crisis and exploring ways to sustain the growth of both the global economy and national economies. With regard to China's economic development, some people have hailed its achievements, while some others have expressed doubt. Some are optimistic about China's economic future, while some others say that China is in trouble. But we in China remain level-headed. We are clear about the situation and we are fully confident about our future.
The first decade of this century has seen major changes in the global political and economic landscape. It has also seen rapid industrialization and urbanization in China. Great progress has been made in China's comprehensive reform, opening-up and modernization endeavor during this decade.
Over the last ten years, China's economy has been growing by 10.5% annually. Its GDP and trade volume respectively rose from the sixth and seventh place to the second place in the world. China's industrial structure is being upgraded; the foundation of its agriculture has grown stronger; development in the central and western provinces has picked up speed; and a mode of regional development with each region tapping its distinctive strength has taken shape. Social services are thriving; and urban and rural income has risen substantially. China has taken on a completely new look as its total economic output and overall national strength significantly increased and people's living standards greatly improved.
We have continued to resolve challenging issues in development by carrying out reform and steadily improved the socialist market economy. An array of important reform measures have been introduced in taxation, finance, enterprises, rural areas and resource prices. These measures have enhanced the vitality of the micro-economy and macro-regulation and raised the efficiency of market allocation of resources. We have made full progress in expanding social services. Nationwide free nine-year compulsory education has been achieved. A basic social security system covering both urban and rural areas has been put in place. Construction of government-subsidized housing is being accelerated. The cherished goal of the Chinese that everyone should have access to education, employment and pay, medical and old-age care and housing is becoming a reality. Through reform, we are removing bottlenecks hampering development and have released the initiative, enthusiasm and entrepreneurial spirit of the Chinese people. This, in turn, has fully activated factors such as labor, capital, knowledge, technology and management, which form the source of rapidly increasing social wealth.
We are pursuing a win-win strategy of opening-up to increase the openness of China's economy. Since joining the WTO in 2001, we have speeded up efforts to change the way of conducting foreign trade, improved the import and export mix, upgraded the processing trade and vigorously developed trade in services. We have pursued the dual strategy of introducing foreign capital and encouraging Chinese companies to invest overseas to achieve greater balance between the use of FDI and overseas Chinese investment. We have taken an active part in the reform of the global economic governance structure and the building of regional cooperation mechanisms, and worked to deepen bilateral and multilateral economic and trade relations. China today is a fully open market economy. The opening-up policy has both benefited China's development and the well-being of its people and contributed to regional and global economic growth.