Economic restructuring most pressing task

Transformation of the mode of development and economic restructuring are the most pressing tasks at present for the Chinese government, Premier Wen Jiabao said in a government work report Monday. These measures are the "key to solving the problems of imbalanced, uncoordinated, and unsustainable development" in China, said Wen in the report delivered at the annual session of the National People's Congress, China's top legislature. "This is both a long-term task and our most pressing task at present," said the premier. The Chinese government cuts the GDP growth target to 7.5 percent in 2012. This is the first time for the Chinese government to lower its economic growth target after keeping it around 8 percent for seven consecutive years. One reason for setting a slightly lower GDP growth rate is to "guide people in all sectors to focus their work on accelerating the transformation of the pattern of economic development and making economic development more sustainable and efficient," Wen said. After more than 30 years of development, the country has become the world's second largest economy and leading exporter. However, over-reliance on exports, weak consumption and low-end manufacturing are becoming stumbling blocks on the nation's path to sustainable development. In 2012, the government pledges to improve and upgrade the industrial structure, conserve energy, reduce emissions, and protect the ecological environment, Wen said.