By South China Morning Post | Created at 2024-11-05 05:19:50 | Updated at 2024-11-05 07:56:57
2 hours ago
Chinese President Xi Jinping has called on provincial leaders to be patient about the pace of economic reforms and cautioned them against trying to solve problems hastily, according to party mouthpiece People’s Daily.
He also urged them to break down the fences of vested interests in each province in favour of a national market and to avoid “selective law enforcement”, the newspaper said.
“Reform is a gradual process and cannot be achieved with just one move,” Xi told the officials last week at a study session about the spirit of the party’s third plenum – the conclave that took place in July and outlined the country’s economic direction.
While it only published a summary of Xi’s speech to the officials, the flagship newspaper has rolled out four opinion pieces based on the speech’s highlights in recent days in an effort to get the key messages across.
Xi delivered his remarks amid high expectations that Beijing was about to roll out a range of fiscal stimulus measures designed to inject funds into the Chinese economy against a backdrop of economic challenges.
On October 18, China posted its lowest quarterly economic growth of 4.6 per cent since the first quarter of last year, raising concerns about whether it can reach this year’s target of “around five per cent”.
Xi has issued three rallying calls since October 14, urging local officials to exhaust all means to reach the economic target, while reiterating the need to deepen reforms with the aim of steering a tech-driven path towards growth over the long run.
