China's premier stresses shift of growth engines

Updated 2017-06-26 09:29:14 Xinhua

Chinese Premier Li Keqiang on Tuesday stressed the importance of accelerating the shift from traditional economic growth engines to new ones.

Li made the remarks at a symposium on new development ideas and developing new growth drivers at the Chinese Academy of Governance, attended by senior government officials and business leaders.

Faced with a challenging world economic recovery and relatively heavy downward pressure in the domestic economy, the old growth pattern will not be able to continue, said Li.

China must speed up replacing old growth drivers with new ones if it wants to transform and upgrade the economy, Li said, adding that the key to the shift of growth drivers lies in technology.

The focus should be on new technology, new industries and new business models, supported by the development of new production factors including knowledge, technology, information and data, the premier said.

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