Full text of Chinese Premier Wen Jiabao's speech at Summer Davos 2010 (4)

23:15, September 13, 2010      

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-- We will strike a balance between economic and social development and strive to ensure and improve people's livelihood and promote social equity and justice. To improve people's livelihood and extend the benefits of economic development to all is the fundamental goal of economic and social development. And to meet the essential needs of the people and free them from worries for daily necessities is an important responsibility of modern government. Many countries now face the challenge of high unemployment. China is also confronted by a rather severe employment situation. There are almost 800 million people of working age in China, equivalent to the workforce of all developed countries combined. The annual increase of workforce in the job market far exceeds the number of jobs available. The oversupply of labor and structural labor shortage exist side by side. We will make employment expansion a priority target in economic and social development, implement a more pro-active employment policy, vigorously create new jobs, and encourage self-employment to promote full employment. We will enhance the government's capability in providing public services, gradually establish a fairly complete and sustainable system of basic public services that covers both urban and rural areas, and promote equal access to social security and basic medical and health care services. The issue of housing is both an economic issue and more importantly, a major issue affecting people's livelihood and social stability. To stabilize the housing price and ensure housing availability is an important responsibility of governments at all levels. We must further rectify the market order, improve the land, tax and financial policies, accelerate the establishment of a long-term mechanism for the healthy development of the housing market and curb investment and speculative demand. We need to guide the market towards greater supply of ordinary commercial housing, speed up the development of low-income housing and build public rental housing in order to form a rational structure of housing supply and meet the diverse housing needs.

-- We will deepen reform and increase the dynamism and vitality for sustainable development. China's development and progress would not have been possible without reform and opening-up. And to achieve the modernization goal of building a prosperous, democratic, culturally-advanced and harmonious country, we still need to rely on reform and opening-up. With China's reform endeavor at a crucial stage, we must advance the reforms in all areas with greater determination and courage. We must deepen comprehensive reforms in the economic, political and other fields to enable the entire system to better meet the needs of developing a modern economy and building socialist democracy, push forward social equity and justice and facilitate the free and all-round development of the people.

Ladies and Gentlemen,

China's development is open development. China's opening-up is long-term, comprehensive and mutually beneficial. We will uphold all policies conductive to opening-up. China is committed to creating an open and fair environment for foreign invested enterprises. China gives high priority to intellectual property protection and has already made this a national strategy. We are ready to conduct exchanges and dialogue with other countries in this field. I wish to reiterate here that all enterprises registered in China according to Chinese laws are Chinese enterprises. Their products are made-in-China products. And the innovative products based on their research and development are created-in-China products. All foreign invested enterprises registered in China enjoy national treatment. In government procurement, China gives equal treatment to all products produced in China by foreign invested enterprises and Chinese invested enterprises alike.

China's huge market volume, sound infrastructure, strong industrial support ability and stable and fair market environment are attracting more and more multinational enterprises to invest and establish business in China. China is now one of the world's largest foreign investment destinations. More than 470 of the top 500 global companies have established their presence in China. By July this year, China had received 1.05 trillion U.S. dollars of foreign investment in cumulative terms, ranking the first among developing countries for 18 years in a row. In the first seven months this year, foreign investment in China increased by 20.7 percent over the same period last year. Foreign invested enterprises on the whole enjoy good operation in China and have reaped good returns. Many have become the bright spot and profit center in the global business growth of their parent companies. All of these demonstrate that the efforts of the Chinese government to foster a favorable investment environment have been recognized by the investors and bolstered foreign investors' confidence. We will continue to improve the foreign-related economic laws, regulations and policies, and improve the business environment for foreign investors in China. We sincerely welcome enterprises from all countries to actively participate in China's reform and opening-up process, and hope that all types of enterprises will strictly abide by China's laws and regulations, run businesses in China according to law, and share the opportunities and benefits of China's prosperity and progress.

Thank you.Source: Xinhua
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(Editor:李牧(实习))

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