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Reforms pace 'needs to quicken',economists urge

  • Author:Tony
  • Release on:2015-10-26

Reforms pace 'needs to quicken',economists urge

'Institutional barriers' cited as main factor impeding nation's progress

One of China's leading economists has made a strong call for the country's leaders to speed up reforms that have been delayed.

The appeal by Wu Jinglian comes as a top leadership meeting is scheduled to be held on Monday to map out the nation's development program for the next five years.

The Communist Party of China is holding its Central Committee plenum from Monday to Thursday to come up with a proposal for the 13th Five-Year Plan (2016-20).

The meeting will also fill high-level vacancies left by officials now facing graft charges, including 11 former Central Committee members and alternate members.

Wu, 85, is a researcher at the State Council Development Research Center and a veteran economic adviser to the central government from the early days of the nation's economic reform.

Speaking on Sunday at a Center for Industrial Development and Environmental Governance forum at Tsinghua University, Wu blamed what he called "institutional barriers" as the main factor for the slowdown in China's overall rise in productivity and the failure to meet the demands of its newly rich middle-class citizens.

The only solution is to forge ahead with reform, rather than to introduce continual financial stimulus measures, he said.

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