Chinese Vice-Premier Zeng Peiyan gave a presentation, entitled as The Power of Collaborative Innovation, at World Economic Forum in Davos, Switzerland on January 24 about the key issues concerning world economy and China's economic development.

When talking about China's economic development, opening and reform drive, Zeng said that China will take upgrading independent innovation capacity as the core of its national development strategy, and the key factor in enforcing national power, so China attaches unparalleled attention to product quality and IP, and to training of innovative personnel. 

China will adopt overall, human-oriented, coordinated, the sustainable scientific development view as guidance in its economic, and opening and reform program, and will make efforts in following aspects in the process of building a well-off society:

--- To keep stable and reasonable economic development speed.
China will take preventing economy from overheating and controlling inflation as the priority in current macroeconomic control and readjustment, and adopt prudent fiscal policy and tight monetary policy so as to balance economic aggregate and optimize economic structure. China will base its food, energy and other strategic goods supply upon itself, and thus to keep the price at a general balance.

--- To transform economic growth mode.
China will insist on steadily expanding its domestic market, especially the consumers' demand, increase Chinese people's consumption rate, enforce adjustment and optimization of industrial structure, raise the proportion of service industry in the whole economy, take full use of man power, and raise more contribution of science and technology to its economic growth.

---- To enhance creative capacity.
China will take upgrading independent innovation as the core of national development strategy and the key factor in strengthening national power, and attach unparalleled attention to product quality and IPR protection, and to training of innovative personnel. "Made in China" is reliable, while "Created in China" will come soon.

---- To promote sustainable development.
China will start a movement to save energy and reduce pollutants discharge, speed up phrasing-out those equipments consuming more energy and producing pollution, sewage treatment and waste processing, and develop energy-saving residential houses and automobile. In future cooling and heating of a building will be controlled, and more energy-saving lighting system will be widely used.

--- To continue systematic reform.
China will provide more reasonable, fair, healthy market environment for enterprises of various kinds of ownership, complete modern market mechanism, the rate-forming mechanism of Chinese currency. The country will promote administration system reform, setting up public service and social secure system so as to establish a complete socialist market economic system.

--- To further opening to the world.
China will promote free trade and investment, implement free-trade-zone strategy and enforce bilateral and mutual economic cooperation. Foreign trade structure will be adjusted, service trade will be promoted. While keeping on attracting foreign investment, China also encourages its enterprises to invest abroad. On the base of mutual respect and equal consultation, China is willing to solve disputes in trade and investment probably. The country will actively engage in international cooperation in energy and resource development as well as environment protection, and is ready to have dialogue with energy and resource supplying and consuming countries.

The World Economic Forum had been held between January 23 to 26, attracting more than 20 Chiefs of State and heads of governments. More than 5,000 senior government officials, world-known business people, mass media and international organizations attended the forum.