Economic fundamentals still strong in China: Premier

BEIJING - Chinese Premier Li Keqiang on Friday said that China had the ability to maintain growth at a medium-high speed and upgrade the economy to a medium-high level.

Li made the remarks while meeting with about 50 overseas representatives attending the fourth Global Think Tank Summit in Beijing, including former Italian prime minister Romano Prodi, former special adviser to US President Barack Obama John Podesta, 2011 Nobel laureate in economics Thomas J. Sargent and Huang Jing, professor at the National University of Singapore.

Discussions covered topics including sustainable development, global governance, climate change and China's economy.

Li said the economic fundamentals were still very strong in China.

Since May this year, China's main economic indices, including those for industry, investment, consumption, import and export, have been stable and continue to recover, he said, adding employment had maintained sound momentum and the economy was operating within an appropriate range.

We will continue to ensure the economy operates within a proper range, enhance targeted economic regulation, and deepen the streamlining of administration and optimizing of public services, he said.

We will boost mass entrepreneurship and innovation, and increase the supply of public goods and services, he said.

After more than 30 years of reform and opening up, as well as rapid industrialization, China has accumulated abundant industrial capacity, strong equipment manufacturing capacity and rich development experience, he said.

China is willing to enhance industrial capacity cooperation with both developing and developed countries, in a bid to achieve common development and push for sustainable recovery and growth of the world economy, he said.

Since the introduction of the United Nations Millennium Development Goals (MDGs), among developing nations China has taken the lead in realizing the poverty reduction goal, he said.

China has made remarkable progress in the areas of education, employment, gender equality, public health, environment protection and social security, and has achieved overall realization of the MDGs, according to the premier.

As the biggest developing country in the world, China had provided support within its capacity to other developing countries, he said, adding that China was ready to work with all parties to formulate a fair, inclusive and sustainable post-2015 Development Agenda of the UN.

Representatives of the summit voiced concern over global challenges, including improving global governance, pushing forward poverty reduction and combating climate change.

They appreciated China's achievements in poverty reduction and its contribution to the implementation of the MDGs, and voiced the hope that exchanges and cooperation with China would be enhanced via the platform of the think-tank summit.

More than 600 representatives from around 30 countries, regions and international organizations attended the meeting, including scholars, former politicians, heads of international organizations and business leaders.