Chi Fulin, head of the Hainan-based China Institute for Reform and Development (CIRD), delivered a report for the strategic leadership training program for outstanding entrepreneurs launched by the Xiamen Torch Academy on March 3 in Xiamen, Fujian province.

The lecture attracted more than 120 trainees of the academy from local government departments, enterprises in the Xiamen Torch Development Zone for High Technology Industries and relevant associations.

Chi Fulin, head of the CIRD, delivers a report titled "Structural Transformation and High-quality Growth" in Xiamen, Fujian province on March 3. [Photo/WeChat account: Xiamen Torch Academy]

Chi gave a speech titled "Structural Transformation and High-quality Growth" in which he talked about those matters in the late period of industrialization, the huge growth potential in structural transformation, and the deepening of transformation-centered structural reform and its promotion with high-level opening-up.

More than 120 trainees of the Xiamen Torch Academy from local government departments, enterprises in the Xiamen Torch Development Zone for High Technology Industries and relevant associations participate in the lecture. [Photo/WeChat account: Xiamen Torch Academy]

According to Chi, China still has a huge potential for the transformation and upgrading of industrial, scientific and technological activities, consumption, urban-rural balance, and energy and trade structures in the next 10 to 15 years, and the economic structural transformation can be expected to bear a strong development momentum.

The key to seizing opportunities, addressing challenges and achieving high-quality growth is to fully unleash the underlying growth momentum and vitality of China’s 1.4 billion people through structural transformation, Chi added.