China will not slow down but speed up reforming its economic and political systems against the backdrop of the global financial crisis, said Chinese Premier Wen Jiabao on Friday.

"To counter the global financial crisis, we can't slow down the process of reforms. Instead, we would rather speed up reforms," said Wen at a press conference after the close of the annual parliament session.

"Only by doing so and removing institutional barriers can we ensure the implementation of all measures," said Wen.

He pledged to press ahead with economic reforms to improve the system of socialist market economy.

The country not only needs strong macro-level regulations and massive government spending but should also give full play to market force in allocating resources and encourage the development of private enterprises and investment, said Wen.

In addition to macro-level plans to adjust and revive industries, the government should also bring out the full potential of enterprises and make them more vibrant, he said.

While accelerating economic reforms, China will also actively advance reforms of its political system, Wen told the press conference.

"We'll develop socialist democracy to guarantee people's freedom and rights and carry forward reforms of our judicial system to promote social equity and justice," he said.

Wen also promised to enhance the supervision on the government by all sides, so that "the run of the government will be in accordance with the laws and subject to public supervision."

(Xinhua News Agency March 13, 2009)