Nation's reform efforts hailed by execs, experts

Skyscrapers border a lush green landscape in Shenzhen's central business district. China's recent move to deepen economic structural reform is an attempt to cultivate new quality productive forces and foster high-quality development in the long run, offering increasing growth opportunities for stakeholders both at home and abroad, said experts and entrepreneurs. "Deepening reform, particularly institutional reform, will help remove obstacles and difficulties hindering the development of new quality productive forces, and promote optimal allocation and free flow of production factors including capital, technology and labor," said Liu Quanhong, director of the industrial and technological economics research institute of the Chinese Academy of Macroeconomic Research. "China is racing to create a favorable institutional environment for nurturing new quality productive forces, which is conducive to advancing Chinese modernization," said Liu, from the China Institute of Fudan University. Global executives hailed China's attempts to further deepen reform and foster new quality productive forces, saying that these measures will create more growth opportunities and help in the transformation of the domestic economy.