Chinese vice premier highlights more effective investments

Chinese Vice Premier Zhang Gaoli has called for more efforts on effective investments and unleashing market vitality through reforms amid economic downside risks.

Chinese economic growth was within a proper range up to date and positive results of economic restructuring have emerged despite downside risks, Zhang said during a research tour in northwest China's Ningxia Hui Autonomous Region and Gansu Province from July 2 to 5.

China needs to streamline administration and delegate more power to lower-level governments, carry out measures to stabilize economic growth, promote reforms, enhance restructuring and benefit people, and support investments, consumption and exports, he said.

Priority should be given to invigorating market vigor through reforms and targeted controls, increasing effective and reasonable investments, supporting the real economy as well as small and micro-sized enterprises, in an effort to contribute to steady economic growth this year and development in the future, Zhang stressed.

Zhang also urged efforts on implementing the strategy for development of the western regions and pushing forward the building of the Silk Road Economic Belt, the modern international trade network proposed by Chinese President Xi Jinping.

He encouraged northwestern localities to rely on their own strengths and create new economic growth drivers, noting that stress should be laid on new industries, new technology and new products and the relationship between economic development and environmental protection should be handled in an appropriate way.