1st Ld: Xi underscores adherence to China's basic economic system

China should adhere to its basic economic system, with public ownership playing a dominant role and diverse forms of ownership developing side by side, President Xi Jinping said on Friday.

Xi made the remarks at a panel discussion of political advisors from the China Democratic National Construction Association and the All-China Federation of Industry and Commerce during the ongoing annual session of the Chinese People's Political Consultative Conference National Committee.

The implementation of such a basic economic system is a major political policy decided by the Communist Party of China (CPC). China must unswervingly strengthen and develop the public sector and also unswervingly encourage, support and guide the development of the non-public sector, the president said.

China remains committed to creating a favorable environment for the non-public sector, Xi said.

The political advisors discussed issues related to the promotion of supply-side structural reform, the protection of intellectual property rights, cutting corporate costs and improving technological innovation.

Xi said advisors have offered some very good suggestions and asked relevant departments to carefully study them.

Despite a complex international situation and daunting domestic reform tasks, China, acting under the guidance of the "Four Comprehensives," has met the major goals set for last year and the country's 12th Five-Year Plan (2011-2015) came to a successful completion, Xi said.

He said the achievements were hard won, reflecting "the strong leadership of the CPC Central Committee, the unity and efforts of the people and the wisdom of non-Communist parties, the All-China Federation of Industry and Commerce and the political advisors."

The "Four Comprehensives" strategy means comprehensively completing the building of a moderately prosperous society, deepening reform, advancing the rule of law and strictly governing the CPC. Endi