Li made the remarks when holding the third "1+6" Roundtable with leaders of major international economic and financial institutions in Beijing.
We believe multilateralism is the only way to achieve prosperity and inclusive growth, and the trend of globalization should not be reversed.
Li Keqiang, Chinese Premier
When talking about the current global economic situation, Premier Li said the world has come at a crossroads and faces a historical choice.
"We believe multilateralism is the only way to achieve prosperity and inclusive growth, and the trend of globalization should not be reversed," he said.
He also said that China is willing to strengthen communication and consultation with all parties to accommodate the interests of countries of different development stages and groups of different income levels.
China firmly supports multilateralism and opposes unilateralism and protectionism, and will work with other countries to promote economic globalization toward a more open, inclusive, universally beneficial, balanced and win-win direction, and jointly build an open world economy, Li said.
‘CHINA A DEVELOPING COUNTRY’
It is not in line with facts to say that China's economy is relatively developed and that the nation should assume the obligations of a developed country, noted Li.
At present, China's GDP per capita is less than US$9,000, which is only 80% of the world average, and a quarter of the European Union. No matter in accordance with the World Bank's Human Development Index (China ranks 86th) or the United Nation's 2030 Agenda for Sustainable Development, China has the main characteristics of a developing country, he said.
As the largest developing country in the world, China is willing to continue undertaking its obligations in line with its own development level and capabilities, said the premier.
HUGE POTENTIAL OF CHINESE ECONOMY
China's economy is operating steadily and within a reasonable range and has a great potential for development, Premier Li said.
Although the country's economy may see some fluctuations in the near future, it is within control, he said, adding the economic fundamentals are sound, as China is a big market and has the world's most abundant human resources.
"We have a workforce of 800 million to 900 million, with 170 million with higher education or technical skills," Li said.
He noted that China has implemented a prudent monetary policy and proactive fiscal policy in recent years, strongly promoted streamlining administrative procedures, cut taxes and fees and actively developed new drivers of growth, and will continue to do so in the future.
According to the World Bank Group in its annual doing business report released on Oct 31, China advanced to a global ranking of 46 for ease of doing business this year, up from 78 last year.
China will continue to optimize the business environment and ease market access, Li said.
Li said that China's business entities have exceeded 100 million, with 18,000 new enterprises registered daily, which drives the growth of employment, "that is the basic motivation for our development and China still has huge development potential in the future."
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