Li Keqiang: Structural reforms should be pursued with greater vigor

BEIJING - On September 12, Premier Li Keqiang hosted the "1+6" Roundtable with heads of major international economic institutions in Beijing.

On the world economy, Premier Li noted that more and more people have come to realize that the QE policies adopted by some major advanced economies in the wake of the international financial crisis have fallen short of fundamentally boosting growth drivers and created negative after-effects. Countries should turn to structural reforms as a leading means for promoting growth.

Premier Li pointed out that countries need to seize the opportunities presented by the latest round of technological and industrial revolution, make institutional innovations, relax market controls and promote fair competition to boost productivity and encourage entrepreneurship and creativity. Vigorous efforts should be made to restructure the economy by developing emerging sectors. While paying careful attention to the protection of intellectual property rights, we should put a premium on technology transfers and diffusion to make the most of innovations for the benefit of more people.