Premier Li Keqiang attended the opening ceremony of Summer Davos 2016, held at Tianjin Meijiang Convention and Exhibition Center, and addressed at the forum on the morning of June 27.

 

Premier Li Keqiang pointed out that China’s economy is at a critical period of transformation and upgrade. We will give top priority to development, implement the development concepts of innovation, coordination, green, opening up and sharing, and firmly push ahead of the structural reform, especially the supply-side structural reform, do a good job in the production capacity optimization, stock reduction, deleverage, cost reduction, and short slab making up, and shift from over-dependency on the natural resources to dependency on talent, maintain moderate economic growth and march toward mid- and high-end development. 

 

- Innovation leading the economic transformation and upgrade. Efforts will be made to implement the innovation-driven development strategy, build a innovation-oriented nation, develop new economy, foster new powerhouses, and vigorously promote the public entrepreneurship and public innovation, enhance “Internet Plus” action, pool the public wisdom and resources, develop sharing economy and public innovation economy and foster new economic growth points.

 

- Driving the economic transformation and upgrade by means of comprehensively deepening reform. Efforts will be made to streamline the administration and delegate power to the lower levels, optimize regulation and services, employ the market-based and law-based measures to wash out the overcapacity, solve the problems in the arrangement of surplus labor forces, jointly promote reform in fiscal, finance, state-owned enterprises, market access and other key fields and release more vitality of economic development.

 

- Boosting economic transformation and upgrade with opening up. Efforts will be made to further improve the level of open economy, enlarge opening up of the service industries and general manufacturing, and create a more fair, transparent and predictable investment environment. we will treat all enterprises registered in China, regardless of Chinese funded or foreign funded, sole proprietorship or joint venture, equally without discrimination.

 

Premier Li Keqiang answered questions on how China copes with the downturn pressure and support new industrial reform.

 

Source: Translated from Invest Guangzhou, June 28, 2016