Wang Yang, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference, attends a thematic consultative meeting in Beijing on July 10. [Photo/Xinhua]

Developing the real economy and improving the quality of the supply system are the only ways to build a modern economic system and achieve high-quality development, according to Wang Yang. 

Wang, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference, made the remarks while attending a thematic consultative meeting in Beijing on July 10. 

Wang called for efforts to focus on the development of the real economy, take the improvement of the quality of the supply system as the main direction, and give full play to the decisive role of market allocation and the role of government to constantly enhance innovation and the competitiveness of China's economy. 

A total of 26 CPPCC members attended the meeting and made speeches. They evaluated the significant accomplishments of China's economy in maintaining a good momentum in stable growth and structural optimization and improving efficiency and kinetic energy conversion. 

They also pointed out that given problems such as the lack of laws and regulations, policy systems, standards, performance evaluation, and talent support adapted to high-quality development the real economy still faces many difficulties, and there is a long way to go to improve the quality of the supply system. 

Their suggestions included giving priority to reducing the five basic costs of energy, logistics, communications, capital, and land, accelerating construction of manufacturing power and implementing the innovation-driven development strategy in depth. Policies that encourage private investment and continuing to go global by introducing Chinese products internationally were also favored ideas. 

Chinese State Councilor Wang Yong attended and addressed the meeting.

He pointed out that China should implement new development concepts, deepen supply-side structural reforms, implement innovation-driven development strategies, and take multiple measures to reduce corporate costs and improve financial services to the real economy, as well as strengthen the building of talent teams.

Wang said efforts must be made to make the real economy stronger and better, and vigorously promote the high-quality development of the Chinese economy.