Co-op urged to address trade imbalance

Updated: 2012-03-14 11:30


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China to allow non-public capital into financial sector

The government should allow private capital to enter the financial sector and make the process "standardized and open", said Wen.

China's financial authorities are actively considering taking private financing activities in China's east city of Wenzhou as one of the pilots for an overall reform in this field, said he.

"We need to encourage their development, and at the same time put them under strict oversight and supervision," said Wen when commenting on the case of Wu Ying, a businesswoman who was once listed among the country's richest women and faced death penalty for accusations of cheating investors out of several hundred million yuan.

China needs to run own affairs well

The premier said it is important for China to handle its own affairs well in order to cope with the international financial crisis and the European debt crisis.

"In the face of the deepening international financial crisis and the European debt crisis, what is most important is that we run our own affairs well," Wen told the reporters.

Wen said the year 2012 might be the most difficult yet most promising year. "The people needs the government to be calm, resolute and trustworthy,and the government needs the people's trust, support and help," Wen said.

This is the last time for Wen to meet the press after the National People's Congress and the Chinese People's Political Consultative Conference sessions.

"In my last year in office, I will not waiver and carry out my duties,and will remain true to my conviction," Wen said. "I will always be with the people," the premier said.

Wen said he should assume responsibility for the problems that had occurred in China's economy and society during his term of office. "I feel truly sorry," Wen Jiabao said.

"Due to incompetent abilities and institutional and other factors, there is still much room for improvement in my work," Wen said. However, Wen said he had never committed any intentional error in his work because of dereliction of duty.