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CHINA PRESS: China will implement a series of policies to develop the real
economy by redirecting capital to help growth, Economic Information Daily
reported Wednesday. Chinese President Xi Jinping stressed in his keynote speech
fat the 19th Communist Party Congress last month that China needs to transform
its method of development to build a modern economic system. The newspaper cited
various analysts saying China needs to enhance the efficiency and quality of
development, in particular, speeding up development of the manufacturing sector
by enhancing its ability to innovate. The imbalance in the real economy shows
that reform of Chinese corporate system has not caught up with the need to
upgrade and restructure the economy, Chi Fulin, director of China Institute for
Reform and Development and deputy head of China Society of Economic Reform, was
quoted as saying. He also pointed out the imbalance that exists between the
property sector and the development of the real economy that needs to be
addressed (Economic Information Daily)