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Top political advisor stresses reform, innovation in driving growth

China’s top political advisor Wang Yang on Wednesday stressed the role of reform and innovation in cultivating new drivers of economic growth.

Wang, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and chairman of the National Committee of the Chinese People’s Political Consultative Conference, made the remarks in Beijing at a symposium with heads of the central committees of non-Communist parties and the All-China Federation of Industry and Commerce (ACFIC), as well as individuals without party affiliation.

The symposium was held to discuss the results of research and studies carried out by the relevant parties and groups on promoting reform and innovation and cultivating new economic driving forces.

Wang said that driving economic growth with reform and innovation is an inevitable requirement to cope with the severe and complex external environment, withstand the downward pressure on the economy, and achieve high-quality development.

It is also an important way to foster a new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other.

He called on relevant parties and groups to improve their research results and asked the departments involved to further strengthen consultation work in terms of research and studies.

At the symposium, the heads of the central committees of non-Communist parties and the ACFIC, as well as one person representing those without party affiliation, offered suggestions of their own, including modernizing industry chains, upgrading big-data and blockchain technologies, and urging state-owned enterprises to invest more in research and development. 

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