|Premier Li Keqiang and Klaus Schwab, founder and executive chairman of the World Economic Forum, attend the opening ceremony of the forum's Annual Meeting of the New Champions 2013 in Dalian, Liaoning province. Li said China's economy has entered a phase of medium-to-high growth, striking an optimistic tone on continuing stable and sustainable development. (Zou Hong / China Daily )|
Li confident of sustainable growth in the long run
China must push forward economic transformation and structural reform to achieve sustainable and healthy growth, Premier Li Keqiang said on Wednesday.
"Without structural transformation and upgrading, we will not be able to sustain economic growth in the long term," Li said.
His comments came in a keynote speech at the opening ceremony of the World Economic Forum Annual Meeting of the New Champions 2013, or "Summer Davos", in Dalian, Liaoning province.
China's economy has shown signs of stabilizing in recent months after a growth slowdown, signaled by larger-than-expected rebounds in trade, and surveys showing manufacturing regaining momentum.
The nation has shown a willingness to tolerate slower growth for reform initiatives.
A series of measures have been introduced in recent months to stabilize the economy, including small-scale investment in railways and public housing construction and policies to help smaller companies in need of financing.