China prepared to open up even more, Li vows

China is ready to further open up and create a globally competitive business environment, nurturing a level playing field for both domestic and foreign businesses, Premier Li Keqiang told a group of business representatives and government leaders on Tuesday.

The Chinese economy, with its steady, long-term growth and increasing inclusiveness, will generate more opportunities for other countries, and China will remain the most attractive destination for investment, Li said.

He said China has achieved better-than-expected results in its efforts to drive mass entrepreneurship and innovation, adding that the number of market entities of all sizes and types in China increased by a daily average of 40,000 in the past three years.

China has created 13 million jobs every year in the past few years. The registered urban unemployment rate has remained at around 5 percent.

"Short-term and small fluctuations of economic indicators are unavoidable, but the long-term steady trend for Chinese economic development will not change," Li said, ruling out a hard landing.

In a conversation with Klaus Schwab, founder and executive chairman of the World Economic Forum, Li said the economy will stick firmly to macroeconomic policies, with a proactive fiscal and prudent monetary policy, enhancing compliance oversight for market entities and replacing old economic driving forces with the new to maintain economic dynamism.

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