Li says institutional reforms are ahead

Premier Li Keqiang greets Klaus Schwab, World Economic Forum founder and executive chairman, in Dalian, Liaoning province, on Monday. Li said the forum's theme, "Achieving Inclusive Growth in the Fourth Industrial Revolution", fits the global situation. [Photo/China Daily]

China is ready to push forward with institutional reforms and tap market potential through innovation and entrepreneurship to seize opportunities brought by the latest round of global technological and industrial revolution, Premier Li Keqiang said on Monday.

Li made the remark in a meeting with Klaus Schwab, founder and executive chairman of the World Economic Forum in Dalian, and other representatves, a day ahead of the event's opening.

During the talk, Li and Schwab recalled their first meeting in Dalian 12 years ago.

"It is happy for us to see that the Summer Davos Forum has been running in China for over 10 years with increased representation year after year. We are also happy to learn that the WEF has also been holding a series of regional summits. I believe that in this current era, with globalization and growing uncertainties in the world, the role of the WEF needs to be fully recognized." Li said.

He said that theme of this year's forum, "Achieving Inclusive Growth in the Fourth Industrial Revolution", fits the current global situation. China is deepening its economic structural reform from the supply side, he said, nurturing new economic driving forces and boosting social innovation.

Li also said that countries need to work hand in hand ahead of challenges and to enhance coordination on micropolicies to promote trade and investment facilitation to help with the global recovery.

He said China is resolved to push forward with a new round of opening-up and vowed to create a fair investment environment for overseas investors.

Schwab spoke highly of the Chinese government's efforts in working with the WEF, adding that the forum is willing to enhance its cooperation with China to give out a signal of cooperation and steady development.