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Li Keqiang Meets and Holds Talks with Overseas Delegates Attending Annual Meeting of China Development Forum 2016

On the afternoon of March 21, 2016, Premier Li Keqiang met with overseas delegates who came to China to attend the annual meeting of the China Development Forum 2016 at the Great Hall of the People, holding talks and exchanging views with them. Over 120 participants were present, including heads from the Fortune Global 500, experts and scholars from world-famous academic and research institutions and representatives from major international organizations and media.

Mark Fields, President and Chief Executive Officer (CEO) of Ford Motor Company, Angel GurrĂ­a, Secretary-General of the Organization for Economic Cooperation and Development (OECD), Peter Salovey, President of Yale University, Hiroaki Nakanishi, CEO of Hitachi, Michael Spence, Professor of New York University and laureate of the Nobel Memorial Prize in Economic Sciences, Charlie Ross, a renowned TV show host of the US and others respectively asked questions about China's reform and opening up, innovation, entrepreneurship, development of the manufacturing industry, investment and business environment, education cooperation between China and other countries and so on. Li Keqiang answered the questions one by one.

Li Keqiang stated that China has achieved remarkable development in economic and social development since the implementation of the reform and opening up policy over 30 years ago, and has accumulated rich development experience. To maintain a medium-to-high economic growth and ascend to a medium-to-high economic level, China will stick to the reform and opening up policy. We will step up efforts to promote the supply-side structural reform including streamlining administration and delegating powers to lower levels, and cutting down taxation and burden, so as to invigorate market vitality, enhance company competitiveness and mobilize social creativity. In the meantime, China will strike the balance between development pattern transformation and stabilizing growth, advancing reform, adjusting structure, benefiting the people as well as preventing risks, with emphasis placed on employment stability and residents income growth.

Li Keqiang pointed out that China's reform and opening up promote and complement each other. We will continue to expand China's openness and welcome foreign investment in China. Enterprises registered in China, whether domestic funded or foreign funded, proprietorship or joint venture, will be treated equally in a fair environment for competition. We encourage more Chinese students to pursue further study overseas, expand their horizons and learn advanced foreign technology and management experience. We also welcome more foreign students to study in China. Through exchanges and mutual understanding, both sides can respect civilization diversity and draw from the civilization achievements created by human beings.

Li Keqiang stressed that China is deeply implementing the innovation-driven development strategy and vigorously encouraging mass entrepreneurship and innovation. Through developing new economy, cultivating new impetus, modifying and improving traditional driving force, a "twin engine" for China's economy can be forged. Not only are we going to carry out technological innovation, follow the innovation trend featuring Internet, Internet of Things and big data to let millions of people share their wisdom and sparkle new ideas, we will also conduct institutional innovation by streamlining administration and delegating powers, improving regulation and providing better services in order to innovate government supervision and give powers that the government should not possess to the market. The government should focus more energy on supervision midst and after events and create a fair market environment for competition.

The present delegates said that after attending the meeting, they have a deeper understanding of China's economic development prospect, commitment to deepening reform, and determination to promoting economic transformation and upgrade. It is believed that the medium-to-high economic growth of China will exert important influence on world economic growth. The delegates expressed their willingness to deepen cooperation with China, and offer support and assistance to China's development in their areas of expertise.

Yang Jing attended aforementioned activities.

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