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Technological innovations stressed in tackling financial crisis
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Chinese Premier Wen Jiabao has encouraged domestic enterprises to make breakthroughs in science and technology development to weather the global financial crisis.

Wen made the remarks during his inspection tour in east China's Shandong Province from Saturday to Sunday. It had been the Premier's fourth consecutive weekend inspection tour outside Beijing this month.

Wen said the government would continue the current proactive fiscal policy and moderately ease monetary policy and take it a top task to keep a steady economic growth.

In JinJing Group, China's first glass-manufacturing company with a history of 105 years, Wen was pleased to see the company had gained steady sales increase with its independently-developed new products amid the global downturn.

Wen said that technological breakthroughs were fundamental and long-term solutions which should be relied on to fight against the economic downturn.

He urged the enterprises in Shandong to provide better environment for young talent to contribute their ability and wisdom to technology development.

When inspecting Jigang Group, Wen asked the steelmaker to improve its products' competitiveness by carrying out technological innovation, cutting manufacturing cost and developing energy-efficient products.

Wen also visited privately owned Shandong Weiqiao Textile Company, the largest cotton textile enterprise in Asia with more than 150,000 employees.

He said China's textile industry, which was strongly affected by export market, had encountered many difficulties caused by the global financial crisis.

Wen urged efforts to create an environment of fair competition and fight against monopoly to facilitate the development of private companies.

"It is a must to attach importance to the development of private businesses and private fund investment in an effort to deal with the financial crisis and boost economic growth," he said.

Wen said coping with the financial crisis and overcoming difficulties in economic development both serve the purpose of improving people's livelihood and better development of individuals.

Only when people's lives are improved and secured, will the economic development have a true meaning, Wen said.

(Xinhua News Agency June 30, 2009)

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