China will accelerate economic structural reform on the supply front to lend more steam to sustainable growth, President Xi Jinping said Tuesday.
Proactive fiscal policy and prudent monetary policy will be applied to offer a stable macro environment for economic restructuring, Xi told a meeting of the Central Leading Group for Financial and Economic Affairs.
"The government should come up with targeted industrial policies to support the real economy and improve market conditions to give full play to the potential of firms and consumers," he said.
Promoting mergers and acquisitions to reduce overcapacity, lowering business costs for firms, destocking the property market and building a stock market with sound financing functions, mechanisms, regulation and investor rights protection are the key tasks for the government, according to the president.
Xi also called for better city design and management as well as the protection of historical buildings along with urbanization.
