Beijing: Seeking to mitigate the effect of global financial crises, China`s new leader Xi Jinping Tuesday demanded more political courage and wisdom from top officials of the ruling Communist Party to deepen economic reforms.
China will stick to its economic reform to build up a socialist market economy and adhere to the China`s basic state policy of opening up, Xi, who was elected as General Secretary of CPC, told a group study organised by the party here.
He underlined that the party should improve reform policies by learning from people`s practises and demand that achievements benefit more people in a fairer way.
Xi said the opening up and reform policy is an ongoing job. Problems occurring during reform could only be solved by methods created by reform.
Xi and the new Chinese leaders have been talking about more economic reforms after their re-election sending a strong signal to bureaucracy to implement more investment oriented policies.
From high growth rates of about 12 percent an year, the GDP has now come down to around 7.5 percent as a result of steady fall in exports due to global economic crisis.
He said the policy is a long-term, arduous and onerous cause which needs efforts from generation to generation.
China implemented its opening up and reform policy in 1978 after ending the Cultural Revolution (1966-1976).
Xi said that five principles should be adhered to based on more than 30 years of experience of the policy and advocated five principles.
Opening up and reform must be implemented along the path of socialism with Chinese characteristics, Xi said, adding reform must be conducted with correct methods in line with China`s national conditions and should be improved with further practise.
Opening up and reform is like a systematic project which should be conducted in a coordinated way and needs supporting measures.
Also opening up and reform must be conducted based on a premise of stability, and finally, the policy should be conducted under the leadership of the Party and respect grassroots innovation.