China’s President Stresses Laws of Economics in Managing Economy

Beijing, July 09 (QNA) – Chinese President Xi Jinping called upon governments at all levels to follow the laws of economics to achieve rational and sustainable economic development.

Xi made the remarks at a symposium on China’s current economic situation, according to China’s (Xinhua) News Agency.

“The development we desire must be rational and based on the laws of economics and sustainable development based on the laws of nature,” Xi told the meeting after listening to opinions from some leading economists.

He said policymakers at all levels must better understand the rules of economic development to raise their capability in achieving the quality and efficiency of economic and social development.

“We should — based on China’s specific national conditions and changing situations — speed up transformation of the economic development pattern, the restructuring of the economy and reform to let market play a decisive role in allocating resources and let government play a better role,” Xi said.

The President said that China enjoys “favorable conditions” for sustained and healthy economic development.

Xi urged officials to balance reform, development and stability; short-term and long-term goals; and key points of reform and development, to increasing of people’s standard of living. (QNA)

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