Lou Jiwei: Foreigners Do Not Understand Reform Effort

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Lou defended his country's reform measures, citing "enormous effort" in deregulation policies. "Some effects may not be understood outside," he said.

Among the measures pursued by the central government include deregulation of agricultural product prices, "breaking barriers" in internal movement of rural citizens moving to cities and encouraging innovation and startups, he said.

iFeng: 楼继伟:中国正在进行三大改革 外界并不见得理解
He introduced China's ongoing reform in three areas:

First, the relaxation of financial controls. Lou Jiwei said: "The reform of financial deregulation in the Chinese regime is very large, but this will not necessarily be understood by the outside world."

Second, the price of major reforms. Currently, the prices of some commodities have become the market price pricing by the government, for example, agricultural products price change is a good example. Once again he said, "to relax the system and the economic impact of the price reform is huge, but others may not see."

Third, factor mobility reform. It contains a number of steps which can not be solved step. One of the most noteworthy is the issue of tax cuts, such as China immediately to implement consumption-type VAT.

All in all, despite repeated Lou Jiwei filed outside of China depressed economic reform uninformed, he said:. "Influence on the reform of China for the future, we are confident."

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