Chinese vice premier calls on cooperatives to enhance innovation

Chinese Vice Premier Hui Liangyu here Friday called on cooperatives to push forward reform and innovation, so as to increase their economic strength and social influence.

Hui made the remarks when addressing the opening ceremony of an Asia-Pacific regional assembly of the International Cooperative Alliance (ICA).

He said cooperatives should make use of their advantages, choose the right target and improve safeguard mechanisms, so as to realize sustainable development

Hui said China attaches great importance to the development of cooperatives.

He also said the All China Federation of Supply and Marketing Cooperatives (ACFSMC) had done a good job in assisting farmers transform their originally small-scale farms into professional cooperatives.

According to the ACFSMC, there are over 610,000 outlets, 50,000 specialized farmer cooperatives and more than 220,000 rural comprehensive service centers. They are coupled with 2,600 leading enterprises of agriculture industrialization under the Cooperatives.

Under the theme "Sustainable Innovation - Growth Opportunities for Cooperatives" the assembly serves as a platform for cooperatives in the Asia-Pacific region to share experiences in combating financial crises, Hui said.

It was the first time China hosted the ICA's Asia-Pacific regional assembly, which groups representatives from over 40 countries.

Founded in 1895, the ICA is an independent, non-governmental organization which unites, represents and serves cooperatives worldwide. It has 243 member organizations from 91 countries.

Source: Xinhua