China’s New Premier Pledges High-Quality Growth in Inaugural Address

In his first address, China’s new premier Li Qiang made it clear that high-quality growth is a priority for the country. He said that China was shifting its focus to what it calls high-quality development, such as building up tech and so-called green industries.

Li Qiang emphasized the need to move away from traditional models of economic growth, which are heavily reliant on investment in infrastructure and heavy industry. Instead, he called for an increased emphasis on innovation, creativity, and technology to drive sustainable economic development over time.

The Chinese government has already taken steps towards this goal by introducing tax breaks for certain types of businesses as well as incentives for research & development activities within certain sectors or regions of the country. Additionally, there have been investments in renewable energy sources like solar power, which will help reduce emissions while also providing clean sources of energy going forward into the future.

Overall Li Qiang’s speech was seen as a positive step forward towards creating more balanced forms of economic activity throughout China with long-term benefits being realized through greater efficiency and productivity gains across all areas if implemented correctly.