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Int'l crisis brings both opportunities, challenges to China

(Xinhua)
Updated: 2009-09-23 10:45

The current international financial crisis has had a far-reaching impact on the world economy and it has brought both opportunities and challenges to China, Chinese Premier Wen Jiabao said at a workshop in Beijing Tuesday.

Every time a major crisis hits, it brings about new breakthroughs in science and technology, promotes an industrial revolution, gives birth to new industries, and forms new growth points in the economy, said Wen, while presiding over a workshop on strategic industries covering new energy, energy-efficient and environmental technologies, electricity-powered automobiles, new materials, new medicine and pharmacy, biology and seed-breeding, and the information industry.

China has the capabilities of taking over the commanding heights in the fields of economy and science and technology, said the premier.

He highlighted the importance of choosing the correct new and strategic industries that can play a supportive role for the country's current economic and social development. China must master key technologies, otherwise, the country might be controlled by others, he stressed.

Wen said that China needs industries that have broad prospects, consume less energy, have a larger impact on other sectors, offer more jobs and make more money. "We must select and develop new and strategic industries with an international view and strategic thinking," he added.

A total of 47 academicians, professors, experts, entrepreneurs and industry leaders attended the meeting and gave their views on the issues of these new industries.

Also present were vice premiers Li Keqiang and Hui Liangyu, and State councilors Liu Yandong and Ma Kai.

(For more biz stories, please visit Industries)

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