Wu urged to increase the control and influence of the state-owned economy

By | March 8, 2013

At the first meeting of the Twelfth National People’s Congress held at the Great Hall of the People, the NPC Standing Committee Chairman Wu Bangguo of the NPC Standing Committee delivered his work report. Wu Bangguo said: Standing Committee stressed the need to continue to increase the control and influence of the state-owned economy.

He urged to Improve the socialist market economic system, promoting the coordinated development of the public sector of the economy and the non-public economy by accelerating the transformation of economic development mode. At the same time he also emphasized the necessity to improve the environment for SME development by expanding the financing channels, relaxing the market access in various sectors of the economy  to ensure the better use of the various factors of production, and secure the fair competition in the market which is protected by law.

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