BEIJING, Dec 27 Reuters China will strive to expand domestic demand, ensure a speedy economic recovery and promote stable growth, according to an interim report on China39;s 14th fiveyear plan published by parliament on Wednesday.
The country will prioritise the restoration and expansion of consumption, stabilise bulk consumption and promote consumption of services, Zheng Shanjie, head of the state economic planning body, was quoted as saying at a meeting held on Tuesday.
China will also accelerate reforms aimed at expanding the country39;s middleincome bracket, Zheng said.
The government has in recent months unveiled a series of measures to shore up a feeble postpandemic economic recovery, held back by a property slump, local government debt risks and slow global growth.
China will deepen its marketoriented reforms and institutional opening up to boost development, according to Zheng.
The country will also prevent and resolve risks in key areas…… coordinate the resolution of risks in real estate, local government debt, and small and mediumsized financial institutions.
Zheng also said China needs to step up its development of high technology to overcome a blockade on technology exports imposed by some countries.
China must accelerate breakthroughs in key core technologies, achieve a high level of scientific and technological selfreliance, and avoid technologies and industries being 39;locked39; in the lowend and middleend.
Reporting by Liangping Gao, Ella…