Developing the country’s education sector is key to social progress and national rejuvenation, Chinese President Hu Jintao has emphasized in a speech obtained by Xinhua News. The agency says the speech was delivered before a high-level conference on national education held in July. In his address, Hu outlined a five-point education development plan, which includes measures to prioritize education in the overall national development plan, promote a human-oriented approach to education development, implementation of key education reforms, promote of equality in educational opportunities and improve the overall quality of the country’s education sector. Hu also promised to increase the government’s spending for education.
Meanwhile, on the international business scene, foreign businesses are complaining that certain regulations in the country are shutting them out, Time magazine says.
“China still remains excessively regulated and less open to competition compared to other major economies,” Time quotes a paper prepared by the European Union Chamber of Commerce in China.