Quality is Job No 1 for economy

Updated: 2012-03-06 15:41

By Xiao Lixin (chinadaily.com.cn)

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The most important task facing China's economy in 2012 is to improve the quality of economic growth, including energy conservation, emissions reduction, and industry restructuring, said renowned economist Li Yining, a member of the Chinese People's Political Consultative Conference, at a panel discussion of economic experts on Tuesday.

The 2011 Central Economic Work Conference, which opened on Dec 12, set the tone for economic development in 2012, but was widely misinterpreted as focusing on steady economic growth and a higher growth rate, Li said.

According to Li, China's economy faces three crucial problems at present: improving the quality of economic growth, narrowing the gap between urban and rural areas, and tackling employment issues caused by a slowdown in exports.

Governments at all levels will issue, and some have already issued, policies to support small and micro enterprises that can help facilitate job creation, Li said. He has already proposed that individual businesses be registered as small and micro enterprises in order to enjoy preferential treatments, in financing for example.