Premier Li Keqiang held a dialogue with members of WEF’s International Business Council in Davos, Switzerland.
During the gathering, he answered a number of detailed questions concerning China’s reform and development issues.
China is now focusing on advancing reform comprehensively, with the relationship between the government and the market a core issue, Li said. China is carrying out a series of measures to streamline administrative approvals and to create a fair, competitive market environment in a bid to provide favorable conditions for investors.
Admitting to fluctuations in China’s real estate market, the Premier said that China’s urbanization process is developing at a steady pace and that efforts will be made to regulate shadow banking.
With regard to the fight against climate change, Li said China had set a target for its greenhouse gas output to peak “around 2030”, and intends to increase the share of non-fossil fuels in primary energy consumption to around 20% by 2030.
As for financial reform, Li said China’s financial market will be more open to the world, while pushing forward cross-border renminbi investment and settlement, as well as offshore renminbi business.
Over 100 business leaders from around the world attended the meeting.