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Location:Home > Economic and Trade Info > China at a Glance
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| China seeks ways to transform economy |
The 3rd session of the 11th Chinese People's Political Consultative Conference is entering its fourth day. CPPCC members have been offering advice and suggestions for China's economic development. A press conference on how to "accelerate the transformation of the economic growth pattern" has been held at the Great Hall of the People.
CPPCC vice chairman, Li Wuwei, says China's innovation sector is only growing well in few major cities. The sector is still under-developed compared with other industries nationwide. He believes innovation is the key for the country to boost its economic restructuring. He suggests all industries should break down barriers to promote cross-sector information and cultural exchange.
Li Wuwei, Vice-Chairman of 11th National Committee of CPPCC, said, "The innovation sector needs support from various areas, like the government, for information disclosure, consulting and financing services, because most of the firms are SMEs. They especially need help like IPR services and support during their early development stages. "
Figures show that China's innovation industry grew 17 percent in 2009. The rate was way faster than the country's 8.7 percent GDP growth. That's why Li WuWei is suggesting the country uses innovation to boost its economic growth.
Also at the press conference, CPPCC member, Xu GuanHua said China's science and technology development has seen great achievements in recent years. But not all the technology breakthroughs are cost-effective, or can be commercialized.
Xu Guanhua, CPPCC member, said, "Many Chinese science and technology innovations lack creativity or originality. The growth of our intellectual property is fast, but not all of it is a breakthrough in core technology. Without that, we won't be able to break down the IPR barriers and compete with the major players. "
CPPCC members say that expanding domestic consumption will help China make-up its losses in exports. They suggest the country's petrochemical sector invest more in research and development of renewable energy technologies.
They also point out that it's unhealthy to rely on labor intensive industry for long-term economic growth. They believe innovation will help traditional sectors gain new growth. And by doing that, boosting creativity in the service sector can be one of the best ways for the country to achieve sound economic growth. |
Source:cctv.com |
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