Premier Wen vows realty shake-up

• Source: Global Times
• [02:51 December 28 2009]
• Comments

Wen's words

Inflation

Prevention of inflation will be an important task next year.

There is no sign of inflation at present ... but we should foresee such possibility and maintain consumer prices at a reasonable level, especially in a country with imbalanced income distribution and a widening income gap.

Overcapacity

The problem of overcapacity in China has no relation with the central governments 4-trillion-yuan (585.6 billion US dollars) stimulus package.

I can guarantee that the 1.18-trillion-yuan investment the central government planned for 2009-2010 has not been and will not be spent on any industrial project.

Household registration system

China will advance the reform of its decades-old household registration system in a steady manner,

Those policies, in a bid to ensure migrant workers have equal rights to city dwellers, are key to speeding up urbanization and boosting domestic consumption.

Private investment

The key is to expand market access for private enterprises and maintain continuity and the stability of relevant policies.

Private investment should be allowed to enter any sector that government policies and regulations do not forbid.

Emerging strategic industries

The development plan for emerging strategic industries is under discussion and would be combined with the 12th Five-Year Plan.

Efforts should be made to develop the Internet, the green economy, the low-carbon economy, environmental-protection technology and biomedicine.