Chinese premier calls for building of equitable, open world economy

Chinese Premier Li Keqiang (R) meets with Klaus Schwab, World Economic Forum (WEF) founder and executive chairman, in Dalian, northeast China's Liaoning Province, June 26, 2017. (Xinhua/Pang Xinglei)

Chinese Premier Li Keqiang called on all countries to make concerted efforts in building a more fair, just and open world economic system on Monday.[Special coverage]

Li made the remarks when meeting with Klaus Schwab, World Economic Forum (WEF) founder and executive chairman, in China's northeastern coastal city Dalian ahead of the Summer Davos Forum.

This year's forum, scheduled for Tuesday to Thursday, carries the theme "Achieving Inclusive Growth in the Fourth Industrial Revolution." Li will address the opening ceremony on Tuesday.

Li spoke highly of the cooperation between the WEF and China, saying the theme of the annual meeting has practical significance.

With a focus on the supply-side structural reform, China is using the new round of industrial and technological revolution to push forward economic reform, said Li.

The government is trying to stimulate the market by cutting red tape, improving supervision and services, as well as encouraging innovation and entrepreneurship, he said.

He said China is making efforts to foster new growth drivers to replace old ones, promote job creation and upgrade its industries, in a bid to create a new engine for economic development.

The Premier said the recovery of world economy needs the efforts of all countries.

He called on countries to meet challenges together, enhance coordination in macroeconomic policies, and advance trade and investment liberalization and facilitation.

China will continue to advance a new round of high-level opening-up, and treat domestic and foreign-funded enterprises fairly and equally, so as to achieve mutual benefit and common development, said Li.

Schwab, for his part, appreciated the policies mentioned above, saying the WEF is willing to reinforce its partnership with China.

He said the WEF is ready to join with China to send out a positive signal of stability, development and cooperation, and contribute to a strong, sustainable and balanced world economy.

Established in 2007, the annual meeting has become the foremost gathering on science, technology and innovation. It serves as a platform for leaders to deepen their understanding of the Fourth Industrial Revolution.

Around 1,500 politicians, officials, entrepreneurs, scholars, and media representatives from over 90 countries and regions will attend the meeting.