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Wen urges innovation to fight crisis: state media
AFP - Monday, March 23
BEIJING (AFP) - - China's Premier Wen Jiabao has urged businesses to focus on upgrading and innovation to help ride through the global financial crisis, state media reported Sunday.
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"Chinese companies should focus on adjusting product structure, improving quality and upgrading technologies in the face of economic woes," Wen said during a visit to northeast China, the official Xinhua news agency said.
Urging enterprises to move sooner rather than later, Wen said efforts should be stepped up to develop new products and foster intellectual property rights, Xinhua said.
He once again emphasised the implementation of China's four-trillion-yuan (580-billion-dollar) stimulus package, unveiled in November to fight the impact of the crisis on the country's trade-dependent economy.
A top official at the State Council, or cabinet, said earlier Sunday that the package was expected to contribute 1.5 to 1.9 percent to China's growth this year, Xinhua reported.
China has set an economic growth target of about 8.0 percent this year, a level that the government says it needs in order to keep unemployment at a manageable level.
However, just over a week ago, Premier Wen Jiabao admitted this target would be difficult to achieve.
On Wednesday, the World Bank slashed China's economic growth forecast to 6.5 percent in 2009.
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Enlarge Photo
Workers produce the Chinese-made handsets "Spice" at a semi-hightech factory in Shenzhen, southern China's Guangdong province on December 2008.Wen Jiabao has urged businesses to focus on upgrading and innovation to help ride through the global financial crisis, state media has reported.
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