Party secretary Li Xiaomin delivers a speech at the opening ceremony of the second session of the 14th Wuxi Municipal committee of the Chinese People's Political Consultative Conference (CPPCC) held on Jan 6. [Photo provided to chinadaily.com.cn]

Wuxi government's main target should be high-quality development in its current and future works, Party secretary Li Xiaomin said in his speech at the opening ceremony of the second session of the 14th Wuxi Municipal committee of the Chinese People's Political Consultative Conference (CPPCC) held on Jan 6.

Why does Wuxi need to pursue high-quality development?

Since Wuxi has reached a one trillion yuan GDP, only to pursue a high-quality development can the city maintain a steady economic growth, achieve the goal of building a moderately well-off society in an all-round way, and satisfy the demands of its citizens for a good life.

How to achieve high quality development?

Improve industrial structure

The municipal government should promote the integrated development of real economy, technological innovation, and modern finance, and construct a modern industry system with Wuxi features which meets the needs of modern economic development.

The government should advance the formulation and implementation of policies regarding the financial industry's support for real economy so as to provide it with efficient and low-cost financing service and to further promote the transformation and upgrading of traditional industries.

Enterprises should be encouraged to invest more in scientific research to enhance their capability of independent innovation; meanwhile, they should also seek more cooperation with local universities and research institutes to achieve mutual development.