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People's Daily Online>>China Business

Nation 'at key point' in growth

By Li Jing (China Daily)

10:38, January 07, 2012

BEIJING - Urbanization, upgrading the manufacturing sector and developing strategic industries are keys to boosting the country's domestic demand, as China is at a crucial point of stabilizing growth and improving its economic structure, Vice-Premier Li Keqiang said on Friday.

At this moment, China's economy is facing challenges from both home and abroad, Li told a meeting of engineers and scientists.

With stabilizing prices and maintaining solid growth as priorities, the country should also speed up economic restructuring, as constraints from energy, resources and the environment are getting tougher, Li said.

Urbanization is an important engine for expanding domestic demand and stimulating economic and social development.

He said the government should extend basic public services to more people and encourage qualified migrant workers to settle down in cities in an orderly manner by helping them solve problems related to education, medical service and housing.

Upgrading traditional industries through technological innovation could expand China's domestic demand, said Li, highlighting advanced manufacturing, emerging strategic industries and a modern service sector as important pillars for future economic growth.

In the face of increasing energy constraints, China needs a major breakthrough in mining and exploration, Li said.

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