Xi stresses economic restructuring, innovation

Higher priority should be given to economic restructuring and boosting innovation, Chinese President Xi Jinping said on Tuesday.

Xi affirmed the economic achievements since the start of this year, saying the economy is running within a "reasonable range" and reforms are being carried out in an orderly manner, despite a complex global economic environment.

The economy faces some downward risks and China should insist on a "bottom line mentality", while improving industrial competitiveness and increasing growth quality, Xi said at a seminar attended by non-Communist Party of China (CPC) representatives.

Earnest efforts should be made in transforming the economic growth mode and economic restructuring, fostering a leap in productivity. Reform in line with stabilizing growth, economic restructuring, guarding against risks and benefiting the people should be sped up, he stressed.

More efforts should be made in investment system reform, streamlining administration, delegating power, broadening investment access to private capital, deepening financial reform and the opening up of the service sector, he said.

Xi also called on non-CPC representatives to conduct thorough research and offer good suggestions on reforms and major problems facing the economy and society.