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Chinese president promises progess on business issues

By Alan Yonan

LAST UPDATED: 12:53 p.m. HST, Nov 12, 2011

Chinese President Hu Jintao said today that China is committed to being a strong business and economic partner in the Asia-Pacific region.

China, sometimes criticized for relying too heavily on exports to boost its economic growth, will work to achieve a more balanced approached to its economic policy, Hu said in address to business leaders attending the Asia-Pacific Economic Cooperation CEO Summit.

China will put “equal weight on imports and exports,” Hu said in his address.

Hu pledged progress in a number of other areas, including the protection of intellectual property rights, energy conservation, and reduced government intervention in the private sector.

He also invited the Asia-Pacific business community to participate in China’s push for economic reforms.

Still, Hu said, China has many institutional hurdles it must overcome to ensure timely economic development.

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