Hu said macro-economic controls should be strengthened and improved. He added that the trend of slower global economic growth, and its impact on China, should be accurately observed.

"We should improve the nature of scientific, foresighted and effective macro-economic controls, adjust and optimize the investment structure and vigorously support modern agriculture, energy conservation and pollution discharge reduction to ensure the realization of macro-economic control goals," he said.

He called for substantial efforts to increase the capability of innovation, taking a road of innovation with China's own characteristics, giving greater priority to increasing the capability of independent innovation, further deepening the restructuring of the country's science and technology sector, implementing major research and development programs, and actively creating an environment to encourage enterprises to innovate.

China shall make greater efforts in developing technologies regarding energy-efficient materials, new energies and oil substitutes, Hu said. He pledged to speed up the development of service sector, integrate urban and rural development, modernized the agriculture to better feed its 1.3 billion people.

China will exert greater efforts to develop a recycling economy by forming an energy-efficient and environmentally friendly industrial structure, mode of growth and manner of consumption, he said.

Hu emphasized that the key to economic development transformation is in the hands of the Party committees and governments of all levels.

He pledged to persist in the orientation of socialist market economy in the ongoing reform drive, while trying to make it more "vigorous, efficient, open and conducive to the scientific development."

(Xinhua News Agency April 30, 2008)