11 hours ago
Premier urges China's Jiangsu to embrace ‘higher development expectations'
As Beijing looks to shore up China's economic growth amid mounting challenges, Premier Li Qiang has called on Jiangsu province, a key manufacturing hub on the country's east coast, to step up its efforts in technology, trade and consumption.
During a three-day visit to the province from Monday, Li emphasised the importance of embracing innovative development, stimulating effective demand, fostering entrepreneurship, and deepening reform and opening up to support China's sustained economic growth.
'Jiangsu has a solid economic foundation and strong capabilities, but it also faces higher development expectations,' Li said, calling on the province's officials and residents to stay focused on economic growth and shoulder greater responsibility in meeting the challenges facing the broader economy, Xinhua reported on Wednesday.
In the first quarter of this year, Jiangsu's gross domestic product rose 5.9 per cent year on year to 3.31 trillion yuan (US$460.5 billion), closely trailing top-ranked Guangdong's 3.35 trillion yuan, which was up 4.1 per cent.
One of China's most advanced manufacturing provinces, Jiangsu has been tasked by Beijing with playing a leading role in stabilising growth amid sluggish domestic demand and growing external pressure from increased US tariffs.
At a factory that makes machinery, Li highlighted the need to accelerate the adoption of artificial intelligence and clean energy technologies to upgrade traditional industries and keep pace with global manufacturing trends.
At a home appliance manufacturer involved in a government-backed consumer goods trade-in scheme, Li encouraged the development of more high-quality, customised products to unlock consumer potential.
'China has a vast and growing market, and we welcome businesses from around the world to invest and operate here,' Li said, pledging more policy support and services to ensure a favourable environment for foreign companies.
While inspecting the Jiangsu-Central Asia Centre, a regional service platform for the Belt and Road Initiative trade development strategy, the premier called for better use of China-Europe freight trains and cross-border e-commerce to deepen trade ties with Central Asia.
Wrapping up his trip at the construction site for the 11.5 billion yuan Nanjing North Station project – which will be the provincial capital's largest railway station when it is completed – Li urged more use of advanced materials and technologies and better industrial planning to maximise its long-term impact.
His remarks echoed comments made by President Xi Jinping in March during a meeting with deputies from Jiangsu at the annual meeting of China's top legislature. Xi urged the province to take on a leading role in innovation, regional cooperation and the pursuit of common prosperity. - SOUTH CHINA MORNING POST
