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UPDATED: November 26, 2008
Premier Wen Seeks Advice From Economists
Chinese Premier Wen Jiabao has held in-depth talks with top economists and entrepreneurs to discuss the current economic situation

Chinese Premier Wen Jiabao has held in-depth talks with top economists and entrepreneurs to discuss the current economic situation and the country's macro controls amid government efforts to steer the economy out of trouble against a background of global turmoil.

The premier sat down with specialists in a wide range of fields from fiscal policy, finance and the corporate world, to agriculture, real estate and external economy, as well as company heads from big sectors such as petrochemical, telecommunications, auto, steel, nonferrous metal, machinery manufacturing, logistics and real estate, at the Zhongnanhai leadership compound in downtown Beijing on Nov. 20 and again on Nov. 25.

The economists and entrepreneurs gave their views on the current global economic and financial situation, the country's fiscal and monetary policies, issues concerning rural areas, farmers, and agriculture, real estate sector, financial sector, industrial restructuring, how to improve people's livelihoods, and the difficulties of some sectors and companies, and also offered some suggestions.

After listening to the economists and entrepreneurs. the premier said the complication of the ongoing global economy had brought along new difficulties to framing and adjusting macro policies.

He said it would be difficult to make the right decisions if one was to only "rely on the past experience", or "the wisdom of a few".

He said the government would listen to a wide range of opinions in a bid to become "more scientific and democratic" in decision-making, and improve the transparency of decision-making.

He added the government's earlier decision to adopt "active" fiscal and "moderately active" monetary policies in response to changing economic conditions had played an important role in bolstering the economy.

He asked the State Council and ministries to deliberate on suggestions offered by economists and entrepreneurs for further improvement of macro policies.

Vice premiers Li Keqiang, Hui Liangyu, Zhang Dejiang and Wang Qishan, and State Councilor Ma Kai were also present at the meetings.

Premier Wen and some vice premiers also inspected enterprises in regions across the country, including the eastern Shanghai Municipality and Zhejiang and Fujian provinces and central Hubei Province, during the interval of the two meetings.

(Xinhua News Agency November 25, 2008)

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