China will continue to readjust its economic structure and
concentrate on making a success of technical upgrading in
enterprises.
The pledge came from the Central Economic Working Conference
jointly held by the Communist Party of China (CPC) Central
Committee and the State Council in Beijing from November 27-29.
According to the conference, the country will continue to focus on
the main task of economic readjustment.
To
speed up technical upgrading in existing enterprises and improve
technical standards of production will lay the groundwork to boost
China's international competitiveness. This will also spur
investment demand and improve supply capacity.
It
is necessary to use high technologies and other advanced techniques
to upgrade an important group of industries and enterprises, and
new economic powerhouses should be built up, said the
conference.
Efforts should be made to accelerate selected and prioritized
high-tech industrial development so that high-tech industrial
chains with Chinese characteristics and competitive advantages will
be formed as early as possible.
Also, education should be developed, and improvements made to
housing, tourism, neighborhood services, and modern ways of
distribution. Doing so will create an efficient service network for
China's economic development, and will help meet and enlarge the
consumption demand of rural and urban residents.
It
is also imperative to carefully carry out a series of strategic
plans and policies set by the Central Government for exploring the
vast western region, and to further guarantee a harmonious regional
economic development.
Reform of state-owned enterprises (SOEs) will, for the foreseeable
future, remain the core of the overall economic restructuring plan,
said the conference.
It
is necessary to continue the in-depth SOE reform in accordance with
the requirements of "well-defined property, clearly-stated rights
and obligations, a division of administrative and corporate
functions, and scientific management.
It
is also important to perfect a corporate structure that merges
rights and obligations, operates smoothly, and applies effective
restrictions.
Large and medium-sized state-owned enterprises that meet the
pre-set requirements should speed up the work of becoming
share-holding entities, said the conference.
Efforts should also be made to continue to advance strategic
reorganization in SOEs.
It
is also imperative to foster a group of large companies and
conglomerates with their own intellectual properties and strong
controlling power, which can help adapt to international
competition after China's entry into the World Trade
Organization.
Diverse ways to enliven medium-sized and small SOEs should be
found, and the build-up of the social security system should be
continued.
It
is imperative to further rectify and standardize market economic
order, and to step up legal construction.
It
is also necessary to cultivate the awareness in society of a
business code of ethics, the attitude of honest and the sense of
fair and honest competition.
( November 30, 2001)