Home ECONOMY China an important driving force for world economy: Li

China an important driving force for world economy: Li

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Brussels, Oct 12 :

Chinese Premier Li Keqiang said here Saturday that China is still an important driving force for world economic recovery, which will benefit its economic and trade cooperation with Europe.

Chinese Premier Li Keqiang
Chinese Premier Li Keqiang
There will not be a hard landing for the Chinese economy, Xinhua quoted Li as saying while delivering a keynote speech at the sixth Hamburg Summit. He also said that China holds the capability to maintain an economic growth at a fairly rapid speed in future.

Economic development is not a sprint, but a long-distance run which requires perseverance and stamina, Li said, noting that China has maintained a stable growth since the beginning of this year despite complicated domestic and international situation.

Li said such a performance relies mainly on reform and innovation and called reforms a stimulus for economic development.

The government loosens its control on market regulation and strengthens supervision, in order to create an environment for fair competition in the market, which encourages a new boom of grassroots entrepreneurship and mass innovation, Li said.

The government tries to help individuals fulfill their own goals, which transforms the demographic dividend into the talent dividend in China, he aded.

On China-EU relations, Li said China is the world’s biggest emerging market and the European Union (EU) is the biggest developed economy, both of which boast great civilisations.

(IANS)