China's Vice Premier Wang Qishan on Sunday urged local authorities to stabilise exports and boost imports in the face of growing global economic uncertainties, reiterating Beijing's pledge to transform its trade-dependent economy.
Wang also called on Chinese businesses, such as equipment and component manufacturers and companies with patented technology and known brands, to "seize the opportunity" to venture abroad and seek out acquisition opportunities.
The tough situation in the world economy would inevitably lead to insufficient global demand, Wang said during a visit to the north-eastern province of Liaoning.
"To overcome the tough external environment, China needs to accelerate its efforts to restructure its foreign trade and boost its global competitiveness."
Wang said last month that a long-term global recession was certain to happen and China must focus on domestic problems. His comments were the most bearish forecast ever by a top Chinese decision-maker about the world economy.
Beijing has repeatedly vowed to restructure its economy, cutting its reliance on exports and investment and promoting domestic consumption in their place.
Comments
Comments are closed for this article.