Xi listens to entrepreneurs for economic blueprint

The country's new leadership is expected to pay more attention to the concerns of the private sector when working on the economic development blueprint for next year while eyeing "quality" and "sustainable growth" as the main themes, economists said of the new Party chief's meeting with local entrepreneurs.

While meeting with officials and entrepreneurs in South China's Guangdong Province on Sunday ahead of this year's central economic work conference, Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, said China must squarely face difficulties and challenges and work for the best in its economic efforts.

The representatives, mainly from private companies in Shenzhen, Foshan, Dongguan and Zhongshan, shared thoughts on issues such as expanding domestic demands, innovation strategies, boosting exports and support for small enterprises.

The meeting was held to gather opinions on making scientific policies for China's economic work next year, Xi said, highlighting strategic adjustments to the current economic structure, and taking initiatives in global competition.

The Central Economic Work Conference, scheduled for mid-December, will set the tone for China in its economic policies in 2013. China will focus on "improving the quality of economic growth and seeking steady development and innovation," according to a meeting on December 4 held by the Political Bureau of the CPC Central Committee.

The meeting stressed the importance of keeping macro-economic policy consistent and steady, boosting domestic demand and consumption, improving social security, and pushing forward reforms in areas such as taxation and healthcare.

Guangdong is among the areas in China most affected by the declining world economy. Due to a complicated foreign trade environment, declining external demand and increasing operation costs, the province is currently seeing low economic growth in its imports and exports, Zheng Jianrong, a deputy director with the provincial Department of Foreign Trade and Economic Cooperation, said at a meeting in October.

"The meeting shows the new leadership is determined to build a service-oriented government, and to give local companies more confidence in economic development," said Liu Baocheng, a professor with the University of International Business and Economics.

Difficulties and challenges as well as advantages and positive factors should be taken into account to promote healthy economic growth in a solid way, while we should be confident and prepare for crisis, Xi said.

The previous meeting laid out good key points to be discussed at the Central Economic Work Conference, Liu told the Global Times, but details still need to be settled. For example, restrictions in real estate and the automobile purchasing policies are slowing down urbanization, which is key to expanding domestic demand and consumption, he noted.

Global Times - Xinhua