China's Xi urges boost to economic reforms

Reuters
Chinese President Xi Jinping makes a speech at the celebration of the 95th anniversary of the founding of the Communist Party of China at the Great Hall of the People in Beijing, China, July 1, 2016. REUTERS/Kim Kyung-Hoon

BEIJING (Reuters) - China's key reforms have been smooth over the last three years, but implementation needs to be faster, Xinhua news agency said, citing a statement from a meeting chaired by President Xi Jinping on Tuesday.

Xi called for solid efforts to advance reforms, with more focus needed on the economy, at the meeting of the Central Leading Group for Deepening Overall Reform.

Some analysts say China's reforms, particularly those of state firms, have been slower than expected.

China should deepen rural land reform and protect land rights according to land transfer contracts and ensure stable business expectations, the statement said. Protection of intellectual property rights should also be improved, the group said.

The statement said green finance was important for environmentally friendly development and supply-side reform.

(Reporting by Beijing Monitoring Desk and Elias Glenn; Editing by Nick Macfie)