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Li delivers keynote speech at Boao opening ceremony

Reporter: Su Yuting 丨 CCTV.com

04-10-2014 15:34 BJT

Full coverage: Boao Forum for Asia Annual Conference 2014

Full video: Chinese Premier Li Keqiang delivers keynote speech at 2014 Boao Forum for Asia opening ceremony

Chinese Premier Li Keqiang has delivered a keynote speech at the opening ceremony of the 2014 Boao Forum for Asia. The forum opened on Thursday in Boao in the island province of Hainan in south China. Li says Asia is at a crucial development stage and it still faces challenges though as one of the most dynamic regions. He calls on the countries in Asia to identify new growth drivers and build an Asian interest community. Li also explains China's economic policies this year.

Identify new growth drivers to build Asia's new future - that's the message Premier Li Keqiang has sent to Asia and the world.

Li says Asia enjoys a distinct advantage as a late comer and has tremendous untapped development potential, but there are still great challenges.

Li said: "Most Asian countries are developing nations, with low per capita GDP and uneven regional development. Over 700 million people in Asia still live below the international poverty line. Asia is faced with huge challenges of growing the economy and improving people's livelihood."

He says the continent needs to find a dynamic source of development to re-energize itself.

"We should stick to the overarching goal of common development and build an Asian community of shared interests," Li said. "We should foster a general environment for integrated development and form an Asian community of common destiny.

"Infrastructure connectivity is a basic condition for integrated development. Countries in the region should join hands and speed up infrastructure construction including rail, road, air and water transportation."

The premier also explained China's economic policies and challenges it may face. China has set its GDP growth target at 7.5 percent this year. He says the Chinese economy has got off to a stable and good start, but the upturn is not yet on a solid footing, and downward pressure still exists.

"Faced with complex situation, we need to calmly assess the current developments, stay focused, and take initiatives as called for," Li said. "In exercising macro-control, we will endeavour to strike a balance between aggregate supply and demand, focus on improving the economic structure, ensure proper policy intensity in the light of changing situation and take targeted and differentiated measures as appropriate."

He says China will create impetus by deepening reform, adjusting economic structure and improving people's livelihood.

China is trying to make innovative polices to stabilize its economic growth. The world's second largest economy is focusing on closer cooperation with Asian emerging economies. Structural reform is needed to transform Asia from a "world factory" into a "world consumer market", in a balanced and sustainable way.


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