BEIJING, March 14 (UPI) -- Chinese Premier Wen Jiabao said Monday that reforms were needed to remove unhealthy and destabilizing factors that plague China's economy.
Wen said adjustments were needed in the country's industrial structure and in the patterns of economic growth. He said reforms were also needed to ensure social justice and fairness under the ideological rubric of "building a harmonious society."
The premier said reform was not something that could be accomplished in a year, but was a long-term target.
He set out five reform tasks for 2005: China will restructure government bodies and redefine their functions. The government will promote reform of state-owned enterprises by focusing on corporate governance and joint-stock reform.
The government will push reforms in the financial sector, which Wen described as a "very important and problematic part of the economy."
Finally, rural taxes and government fees will be revised and social security will be advanced.
