Vice Premier urges firms to adjust to change

Vice Premier Li Keqiang has urged the country's enterprises to raise their international competitiveness by speeding up transformation and adjustment in line with the changing domestic and global economic situation.

During a three-day inspection and research tour in the booming southeastern Zhejiang province, which ended on Tuesday, Li visited textile factories, electric machinery companies and high-tech enterprises to get a first-hand assessment of enterprise reform amid a new domestic and international market climate.

During visits to Wenzhou-based enterprises including garment producer Fapai Group and lighter maker Rifeng, Li said the overall Chinese economy was fundamentally in good shape and China was confident of keeping its economy growing steadily and fast.

However, he said, the global economic slowdown and imported inflation were having an increasing impact on the economy and the country should take aggressive measures to deal with such challenges.

In visiting electric machinery companies such as leading auto parts producers Wanxiang Group and Ruili Group Corp, Li said the economy was undergoing a critical period, which called for deeper reform.

The government should lose no time or opportunity to improve the market economic system and try to make price increases "acceptable" for both industries and the public, Li said.

He noted that China should also seek better development of foreign trade, improve the mix of imports and exports, and encourage Chinese enterprises to expand into the international market.

At high-tech enterprises like Supcon Group and Alibaba, which owns China's largest e-commerce website, Li said enterprises should also continue to promote technological innovation and improve their management so as to boost their competitiveness.

He also said vigorous development of enterprises was vital for the economy to maintain steady and fast growth and governments at all levels should do their best to provide better services for all companies and create a better climate for the development of enterprises.

Source: China Daily