China vows to press forward with economic reforms

Source: Xinhua | 12-18-2008 17:09

Special Report:   30 Years of Changes

BEIJING, Dec. 18 (Xinhua) -- President Hu Jintao said on Thursday that China must press forward the reform and opening-up drive, which in the past 30 years turned the once poverty-stricken country into one of the world's largest economies.

Hu said significant changes in China proved that the direction and path of reform and opening-up are "completely correct".

"Standing still and regressing will lead only to a dead end," Hu told an audience of more than 6,000, which included Chinese leaders Jiang Zemin, Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang.

The event, which started at the Great Hall of the People in downtown Beijing at 10:00 a.m., was held to commemorate the 30th anniversary of the 3rd plenary session of the 11th Central Committee of the Communist Party of China (CPC). It was at that meeting when the Party decided to open up the country and reform its moribund economy.

The decision, which saved the country from an economic breakdown after the 10-year Cultural Revolution (1966-1976), was masterminded by Deng Xiaoping who was later called "chief architect" of the reforms.

Hu said the meeting 30 years ago ushered in a new historic period of reform and opening-up, marking the most significant turning point in the Party's history since the New China was founded in 1949.

Thursday's anniversary event fully recognized the significance and great achievements of the reforms as well as emphasized continued development of the country with Chinese characteristics, Hu said.

TREMENDOUS CHANGES

When Gu Xiulian visited France and Germany during a study tour of textile machinery in the summer of 1978, she was taken back by the amount of western affluence.

"I was vice minister of the State Planning Commission then, but even I had to buy food with stamps, even for a bottle of sesame jam," said Gu, vice chairwoman of the Standing Committee of the National People's Congress from 2003 to 2008.

"At that time people didn't have enough food and clothing," she said. "Ordinary people suffered most."

Since that trip, the average annual disposable income of Chinese urban residents grew 6.5 times from 343 yuan (50.4 U.S. dollars) to 13,786 yuan.

That's just one of several changes since the country went through reform and opening-up.

Over the past 30 years, China has maintained an average annual GDP growth rate of 9.8 percent, more than three times the world average.

Gross domestic product soared from a mere 360 billion yuan (about 52 billion U.S. dollars) in 1978 to 24.95 trillion yuan in 2007, making China the world's fourth-largest economy.

The country's poor population was reduced from 250 million in 1978 to 14.79 million in 2007.

"The shortage economy, which had troubled China for a long time before the reform and opening-up drive, has been changed fundamentally," Hu said.

The President said the past 30 years were a period in which China's national strength rose by a big margin. He also said Chinese people are receiving more tangible benefits than ever before.

"Reform and opening-up are the fundamental causes of all the achievements and progress we have made," Hu said.

CHALLENGES REMAIN

Hu also cautioned the Party and the Chinese people to remain realistic.

"Comparing our achievements with our long-range goals and people's expectations of a better life, we have no reason to feel content and stop moving forward."

Hu said China still faced many challenges, including a low level of industrial innovation, a weak agricultural foundation, less-developed rural areas and deficiencies with Party and government work.

Given the current world situation, especially the escalation and spread of the international financial crisis, China must continue to firmly focus on economic development, Hu said.

"We must earnestly implement the measures (which the government has announced) to further expand domestic demand, boost economic growth as well as cope properly with the international financial crisis and various risks in the internal economy to maintain stable and relatively rapid growth of the economy," Hu said.

China announced various measures to boost economic growth. Those include reducing interest rates, formulating 10 major measures to expand domestic demand and investing 4 trillion yuan within two years.

Hu also urged the Party and officials to keep people's needs, difficulties and concerns in mind.

"Listen attentively to their voices, faithfully express their wishes, earnestly care about their difficulties and do more good things for the public."

 

Editor:Zhang Ning