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Premier Li makes speech at opening ceremony of Summer Davos

The 10th Summer Davos Forum is underway in Tianjin, China. The event brings together political and business leaders to discuss the hottest topics from Asia’s economic outlook, and China’s 5-Year Plan, to the disruptive forces behind much of today’s changing economic climate. Premier Li Keqiang delivered his keynote speech on June 27, urging nations to join efforts to jump start the global economy.

“To promote a recovery in the global economy and economic growth in our countries, we need to work together to tackle challenges and boost market confidence — to create a stable international environment,” said Premier Li.

Premier Li urged world leaders to carry out economic reforms and implement efficient and orderly global governance. He said Britain’s vote to leave the EU has created new uncertainties in the global economy, and that China is committed to developing its relations both with EU and the UK.

The Premier said China will achieve its major economic targets this year — will enhance structural reforms — and will cut excess national capacity in steel and coal. He added innovation will play an integral role during China’s economic transition.

“We will guide the transformation and upgrading of the economy through innovation. Innovation is the primary driving force of development. We need to implement the innovation-driven development strategy and speed up the efforts to turn China into an innovative country. To better promote innovation, we need to develop new economies and cultivate new driving forces,” said Premier Li.