Premier Li Qiang on Thursday stressed the need to strengthen domestic economic circulation and take it as the strategic bedrock to underpin high-quality development.
Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, said at a meeting on boosting domestic circulation that it is essential to deeply understand and accurately grasp the current economic situation and use the stability and long-term development of domestic circulation to hedge against the uncertainty of international circulation, so as to secure long-term economic stability for the country.
In accelerating the building of a new development pattern, the premier said it is essential to place the strengthening of domestic circulation in a more prominent position and continuously raise the quality and level of economic flows.
He said efforts should be focused in four aspects: ensuring efficient allocation of resources and production factors, deeply integrating scientific and technological innovation with industrial innovation, independently maintaining complete industrial and supply chains, and keeping a dynamic balance between supply and demand.
He underscored the need to support foreign trade enterprises precisely and effectively, making every effort to stabilize employment, deeply tap into the domestic market and boost consumption, expand effective investment, and help various localities foster new growth drivers.
The premier also called for coordinating development and security and maintaining social stability.
He urged all government departments and localities to fully invigorate the market, stimulate social creativity, and break new ground in strengthening domestic circulation.
The meeting was chaired by Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, and attended by other senior officials.
The heads of the National Development and Reform Commission, the Ministry of Commerce, and the provincial governments of Zhejiang, Jiangxi and Gansu delivered speeches at the meeting.
Premier Li stresses boosting domestic circulation to sustain economic growth
