Li: Emerging sectors to provide impetus for economy

A robot plays a musical instrument at a national robots championship contest held at the Harbin Institute of Technology in July 2014. [Photo/IC]

Premier Li Keqiang is looking to the technology industry and emerging sectors as a leading factor to give impetus to the economy during its difficult transition.

The growth industries also have helped the country create more jobs than expected, Li told some political advisers on Friday, one day before he is to deliver the Government Work Report to lawmakers and political advisers as the National People’s Congress convenes its annual session in Beijing.

In the coming months, the government will provide more support to growth industries, such as information technology, biotechnology and new energy, in policies and in financial incentives, Li said.

He made the remarks while meeting with members of the economy and agriculture groups of the nation’s top advisory body.

Li also told the advisers at the meeting that the country has achieved most of its goals set in its previous Five-Year Plan (2011-15).

The country is ready to unveil its 13th Five-Year Plan (2016-20) during the annual session of the top legislature.

On the policy front, the premier promised that the government will release more supply-side reform initiatives aimed at cutting overcapacity and easing taxation burdens on enterprises.

The premier said that enough funds and favorable terms will be guaranteed so the economy can achieve a reasonable growth rate this year, widely estimated at 6.5 percent or higher.