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12 Oct, 2014

China an important driving force for world economic recovery: Chinese PM tells Europe

HAMBURG, Germany, Oct. 11 –(Xinhua) – Chinese Premier Li Keqiang said here Saturday that China is still an important driving force for world economic recovery, which would also benefit economic and trade cooperation between China and Europe.

Chinese PremierLi Keqiangdelivers a keynote speech at the sixth Hamburg Summit in Hamburg,Germany, Oct. 11, 2014. (Xinhua/Rao Aimin)

There will not be a hard landing for the Chinese economy, Li said in a keynote speech at the sixth Hamburg Summit, adding China has the capability to maintain an economic growth at a fairly rapid speed in the future.

Economic development is not a sprint, but a long-distance run which requires perseverance and stamina, Li said, noting that China has maintained a stable growth since the beginning of this year despite complicated domestic and international situation.

Such performance relies mainly on reform and innovation, Li said, calling reform a stimulus for economic development.

The government loosens its control on market regulation and strengthens supervision, in order to create an environment for fair competition in the market, which encourages a new boom of grassroots entrepreneurship and mass innovation, Li said.

The government tries to help individuals fulfill their own goals, which transforms the demographic dividend into the talent dividend in China, the premier said.

Li predicted a GDP growth of about 7.5 percent this year, saying China could achieve a growth rate either slightly higher or lower than that figure, as long as it leads to adequate employment, income increase and innovation-driven development.

Furthermore, Li said China will make its market more accessible to foreign companies, promising to enforce fair business rules and make earnest efforts to protect intellectual property rights.

China’s innovation-driven development welcomes global participation, Li said, hoping that China becomes not only a huge market but also an ideal place of innovation.

Besides, Li said China cannot develop without a peaceful global environment and a stable regional environment, noting that China has been an important force in safeguarding world peace and regional stability and safety.

He called on all countries to march forward hand in hand, respect each other and seek for peaceful co-existence and common development.

On China-EU relations, Li said China is the world’s biggest emerging market and the European Union(EU) is the biggest developed economy, both of which boast great civilizations.

Chinese President Xi Jinping advocated a partnership between China and the EU featuring peace, growth, reform and civilization during his visit to Europe in March, Li said.

The China-EU cooperation will boost regional and global economic development, promote human civilizations and contribute more to world peace and stability, Li said, adding that China is willing to join hands with the EU to set an example for global cooperation.

Li said China supports the EU to play a greater role in international affairs and hopes the EU to continue understanding and supporting China’s choice of the development path which fits in with its own national conditions.

Both China and the EU stand at a critical stage of development, Li said, calling on the two sides to work together in the areas of trade, investment, and innovative cooperation, and in dealing with global challenges.

China is also ready to enhance cultural and people-to-people exchange with the EU, in order to further cement the bilateral relations, Li said.

Martin Schulz, president of the European Parliament, said the EU and China share extensive common interests and are important cooperative partners.

Further developing EU-China relations is a priority of EU’s foreign policy, he said, adding the EU is willing to sign an investment agreement with China at an early date, and promote EU-China cooperation in various fields and face challenges jointly with China.

Representing Germany, Foreign Minister Frank-Walter Steinmeier lauded China’s important contribution to the world’s response to global challenges, adding that EU-China cooperation serves the interest of Germany, China as well as the rest of the world.

Steinmeier said the cooperation action plan agreed by Germany and China laid a blueprint for their future cooperation and provides more convenience for companies from both countries to carry out cooperation.

Germany is ready to work together with China to build a fairer and more reasonable international political and economic order, he added.

The sixth Hamburg Summit was held on Friday and Saturday in the northern German port city of Hamburg, gathering together more than 600 representatives from China and European countries.

Initiated by the Hamburg Chamber of Commerce in 2004, the “China meets Europe” Hamburg Summit now serves as an important platform for discussing China-EU economic cooperation.

The Chinese premier arrived in Germany Thursday for a three-day official visit, the first leg of his three-nation tour, which will later take him to Russia and Italy.