Transformation of economy
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"Transformation of the economic growth pattern" is becoming a key phrase during the annual NPC session. Deputies from both coastal and inland areas are providing their suggestions on sustainable development.
How to transform the pattern of economic development was a main focus of discussions among the NPC deputies.
The economy of East China's Fujian province was hit hard by the impact of the global financial crisis last year, as this coastal province relies heavily on export-oriented industries. This year, it will carry out 14 projects on industry transformation to reverse the situation.
Zhang Changping, NPC Deputy, Deputy Governor of Fujian Province, said,"We have some competitive industries, such as information technology, refined chemicals and food processing. We'll begin the transformation from these industries through tecnological upgrading and expanding output scales."
Southwest China's Guangxi Zhuang Autonomous Region has been a major platform of economic exchanges between China and Southeast Asian nations. The China-ASEAN Free Trade Area was founded on January 1st. Huang Fangfang, a deputy from Guangxi believes this is a good growth opportunity for Chinese enterprises.
Huang Fangfang, NPC Deputy, Mayor of Nanning City of Guangxi, said, "We'll establish an export-oriented economy. 90% of the products are tax-free after the Free Trade Area was formed. Our enterprises can be more profitable. We'll establish plants in southeast Asian countries to develop our economy."
China underscores the transformation as it aims at a complete recovery from the global financial crisis and seeks sustainable economic growth.
