Need for measured response to China's policy change: PM Lee

Need for measured response to China's policy change: PM Lee
PM Lee at a dinner to celebrate the Business China Awards last night. With him are Business China chairman Chua Thian Poh (on his right) and Mr Liang Baohua (on his left), a former secretary of the Jiangsu Provincial Committee of China's Communist Party.

CHINA's development will inevitably be an uneven process, so the rest of the world needs to take a measured response and not react to every twist and turn of policy, Prime Minister Lee Hsien Loong said on Wednesday night.

PM Lee told a gathering at the Resorts World Convention Centre that "we should not be caught up with short-term sentiments... we should step back and take a long-term view".

He cited the initial disappointment of political watchers and market analysts at the communique released after the Communist Party's Third Plenum earlier this month.

The country's top leaders had met to set the policy agenda over the next nine years, but analysts "felt that the communique was vague and leaders were not committed to reforms", said Mr Lee, who was speaking at a dinner to celebrate the Business China Awards.

But when detailed reform plans were released a few days later, sentiment turned - "analysts changed their minds and praised (the Chinese leadership)", he added.

Mr Lee, who spoke in English and Mandarin, was addressing more than 600 members and stakeholders of Business China, which promotes economic and cultural ties between Singapore and China.

It was launched in 2007 by former prime minister Lee Kuan Yew and then Chinese Premier Wen Jiabao. PM Lee was appointed the new patron on Wednesday night, succeeding his father in the role.

He said that although China faces complex economic and social challenges, the outlook is optimistic as its people are "driven" and its leaders "clear-minded... and committed to reforms".

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