China Voice: Reforms key for attaining China’s economic goals

%3CP%3E%3CFONT%20face%3DVerdana%3EWith%20a%20strong%20resolve%20to%20deepen%20reforms%20and%20a%20clear%20grasp%20of%20its%20priorities%2C%20the%20Chinese%20government%20is%20on%20the%20right%20path%20toward%20countering%20downward%20pressure%20for%20growth%20and%20realizing%20major%20economic%20goals%20for%20the%20next%20five%20years.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20country%27s%20economy%20has%20been%20mired%20in%20a%20protracted%20slowdown%20in%20the%20past%20few%20years%2C%20mainly%20due%20to%20faltering%20global%20recovery%20and%20weak%20domestic%20demand%2C%20with%20GDP%20growth%20for%20the%20third%20quarter%20of%202015%20falling%20to%20a%20six-year%20low%20of%206.9%20percent.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20purchasing%20managers%27%20index%20for%20the%20manufacturing%20sector%20has%20hovered%20below%20the%20boom-bust%20line%20of%2050%20for%20five%20months%20in%20a%20row%20as%20of%20December%2C%20pointing%20to%20continued%20downward%20pressure%2C%20according%20to%20data%20unveiled%20Friday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ERealizing%20the%20fact%20that%20China%27s%20economy%20has%20entered%20a%20%22new%20normal%22%20state%20featuring%20slower%20growth%2C%20the%20government%20has%20intensified%20reforms%20to%20raise%20growth%20quality%20and%20efficiency%20and%20pursue%20more%20balanced%20and%20sustainable%20growth.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ESince%20early%202014%2C%20China%20cut%20red%20tape%20and%20lowered%20entry%20requirements%20for%20enterprises%2C%20including%20lifting%20restrictions%20on%20minimum%20registered%20capital%20and%20cash%20ratios%20of%20registered%20capital%2C%20leading%20to%20a%20surge%20in%20newly%20registered%20companies%20and%20a%20new%20wave%20of%20entrepreneurship%20and%20innovation.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ELast%20year%2C%20the%20country%20also%20continued%20reforms%20to%20optimize%20economic%20structure%2C%20make%20the%20economy%20more%20market-oriented%2C%20and%20reduce%20the%20burden%20of%20companies%2C%20especially%20small%20and%20medium-sized%20enterprises.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAs%20the%20government%20begins%20planning%20for%20the%20next%20five%20years%2C%20it%20confirmed%20the%20goal%20of%20realizing%20medium-high%20economic%20growth%20and%20showed%20keen%20resolve%20to%20continue%20major%20reforms.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EOne%20proof%20of%20the%20government%27s%20strong%20reform%20push%20is%20the%20speed%20of%20ending%20the%20one-child%20policy%20that%20existed%20for%20decades.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20rolled%20out%20the%20%22one%20couple%2C%20two%20children%22%20policy%20two%20months%20after%20announcing%20the%20decision%20to%20end%20the%20one-child%20policy.%20All%20couples%20are%20allowed%20to%20have%20two%20children%20beginning%20in%202016.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EFor%20the%20next%20five%20years%2C%20China%20will%20target%20medium-high%20growth%20to%20make%20sure%20that%20it%20can%20double%20both%20its%202010%20GDP%20and%20the%20per%20capita%20income%20of%20rural%20and%20urban%20residents%20by%202020%2C%20which%20requires%20an%20average%20annual%20growth%20of%20more%20than%206.5%20percent.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20country%20will%20also%20promote%20greater%20sophistication%20in%20the%20industrial%20sector%2C%20raise%20consumption%27s%20contribution%20to%20growth%20and%20the%20urbanization%20ratio%2C%20as%20well%20as%20bring%20all%20rural%20people%20out%20of%20the%20poverty%20by%202020.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EIn%202016%2C%20China%20is%20expected%20to%20keep%20economic%20growth%20in%20a%20reasonable%20range%20and%20pay%20more%20attention%20to%20structural%20reforms%20on%20the%20supply%20side%2C%20which%20can%20create%20a%20better%20environment%20for%20sustaining%20long-term%20economic%20growth%2C%20as%20part%20of%20its%20innovative%2C%20coordinated%2C%20green%2C%20open%20and%20shared%20development%20model.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EPriorities%20for%20this%20year%20are%20based%20on%20the%20elimination%20of%20outdated%20capacity%2C%20alleviating%20the%20burden%20for%20firms%2C%20reducing%20property%20market%20inventory%2C%20raising%20efficient%20supply%20and%20defusing%20financial%20risks.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAlthough%20reforms%20are%20not%20going%20to%20be%20finished%20in%20a%20day%2C%20the%20country%20is%20making%20firm%20steps%20toward%20accomplishing%20the%20goal%20of%20building%20a%20moderately%20prosperous%20society%20by%202020.%3C/FONT%3E%3C/P%3E%3CFONT%20face%3DVerdana%3E%0D%0A%3CP%3E%3CBR%3E%28CCTV.com%29%3C/P%3E%0D%0A%3CP%3E%3C/FONT%3E%26nbsp%3B%3C/P%3E