Asia-Pacific leaders attend a retreat session at the Asia-Pacific Economic Cooperation (Apec) Summit on the Indonesian resort island of Bali on Monday, Oct 7, 2013. China took centre-stage as Asia-Pacific leaders opened an annual economic summit in the shadow of global growth clouds that are darkening by the day with the US government paralysed by infighting.
Although there has been a slowdown in economic growth recently, Xi insists that its growth will be robust for that China’s growth and other indicators are within reasonable expectations. “I am deeply convinced the Chinese economy will sustain its sound growth”, Xi said in a keynote address at the CEO conference.
China is trying to shift away from a growth model that has relied heavily on investment in construction and polluting industries, which aims to promote more consumer-oriented, high-tech development.
Quality and efficiency are what China’s economic growth needs to improve, likening the process to finding one’s way to a “new village”.Meanwhile, China must undergo structural reforms, even if it involves a sacrifice of speed.
Draining a pond to catch fish is no formula for sustainable development.
If we hesitate or are indecisive, we will not succeed and all our previous gains will be lost.
