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Vice-Premier: Seize Opportunities and Speed up Economic GrowthChinese Vice-Premier Wen Jiabao Monday urged the country to seize opportunity and speed up economic development to lay a firm foundation for realizing the third set of China's strategic objectives for modernization.Wen made the remarks at the opening session of the "China Development Forum" convened in Beijing. Sponsored by the Development Research Center of the State Council and the Shenzhen Development Bank, the Forum is expected to produce valuable suggestions and opinions in helping China map out its tenth Five-Year Plan starting next year. The Chinese government has begun to formulate its tenth Five- Year Plan, Wen said, pointing out that this plan will be the first five-year plan since the establishment of socialist market economy in China in the late 1970s and early 1980s. "It is also a plan for us to further carry out reforms," he added. "By 2010, China will have established a comparatively complete socialist market economy, doubled its GDP, and will further improve the living standards of the Chinese people," Wen said. "The next five to ten years will therefore be a rather important period for China in the process of modernization," he emphasized. Casting eyes upon China's progress over the past 20 years, Wen noted that China has fulfilled its development target of quadrupling the total GDP since 1980 and has realized the goal of quadrupling the total per capita GDP, despite an increase in China 's population. Social productive forces and the people's livelihood have been raised to new heights, he added. "With the concerted efforts of the whole nations, in about 50 years, the initial modernization of China will be realized," he said. Wen also pointed out that China is now at the important transitional stage in the economy. "We not only should solve residual issues, but also face the issues which have emerged since the reform period," he added. In this new era of economic development, Wen stressed that China "must make strategic readjustments in restructuring the economy." "These readjustments are a priority for China now and in the future. We should continue economic reforms as the economy develops," he stressed. He said that "we must use modern technology to reform traditional industries, and to upgrade and develop high-tech industries to fully realize China's transformation into a knowledge-based economy." Wen also pointed out that the service industry must be developed by utilizing human resources. "The strategy for urbanizing small towns and for developing China's western region must be implemented. The gap between developing urban and rural regions must be narrowed," he added. Wen also said that protecting the environment is a priority and must be undertaken on a grand scale to realize economic and social development. Wen concluded by saying that these reforms will provide vast market opportunities and trade and economic cooperation between China and foreign countries. During the two-day forum, presidents of trans-national corporations, leaders of international economic organizations and distinguished economists from home and abroad will discuss in- depth issues such as China's economic target, China's accession to the World Trade Organization and the fostering of a capital market in China.
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