Wen vows further reforms

0 Comment(s)Print E-mail Shanghai Daily, February 13, 2012
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Premier Wen Jiabao has pledged to use further reforms to solve problems with China's economic structure, unfair income distribution and corruption.

The government should better handle issues related to people's livelihood and address public concerns on price levels, the affordability of housing, and incomes, Wen said.

The premier made the remarks in five separate meetings over the past week to solicit opinions from representatives of different sectors of society on the draft of a government work report to be delivered at the annual session of the National People's Congress, the top legislature, early next month.

After hearing entrepreneurs' reports on the country's industries ranging from energy to automobiles to finance, Wen said the government is paying close attention to the economic situation in January and the first quarter of this year.

"We have to make a proper judgement as early as possible when things happen and take quick action," Wen said, adding fine-tuning of macro policies should begin in the first quarter.

He said according to the macro prudent requirement, the government will maintain the continuity and flexibility of policies.

Zhang Yuliang, chairman of Shanghai-based developer Greenland Group, suggested the government stabilize macro control over the housing market with improved policies concerning affordable housing and commercial real estate.

Wen said the government will work unwaveringly to bring housing prices back to "reasonable levels" while promoting the long-term, stable and healthy development of the industry.

"As a country that is rapidly industrializing and urbanizing with 1.3 billion people, the demand in the housing market is solid in the long run," he said, adding that equal attention needs to be paid to the building of affordable housing and commercial housing units.

He dispelled speculation of a loosening in government regulations designed to cool the property market, citing concerns over fairness and stability.

In a meeting with Wen, leaders of democratic parties, people without party affiliation and representative of national industrial and commercial bodies, advised on reforming the country's taxation, administrative management, income distribution systems and monopoly industries.

Wen said investment in railway construction will mainly be covered by state capital and funds raised through treasury-guaranteed bonds issuance but private capital will be introduced in an orderly way.

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