On September 9, 2015, when having a discussion with representatives of Chinese and foreign entrepreneurs attending the Summer Davos Forum in Dalian, Premier Li Keqiang said that China’s economic situation “has ups and downs, but the trend remains positive” .

When answering relevant questions from Pau Polman, CEO of Unilever of the UK, Li Keqiang said that it has been seven years since the international financial crisis broke out, yet the growth of the world economy still remains sluggish. Indeed, Chinese economy has come under downward pressure. You all follow the Chinese economic situation very closely. It can be said that China’s economic situation “has some ups and downs, but the trend remains positive” for the reason that in the first half of this year, China’s economy has increased by 7%, which ranks one of the highest among the world's major economies.

He expressed that on some occasion he has said that as long as we have relatively sufficient employment, increased household income which is in step with GDP growth and a constantly improved environment, such a rate of development is acceptable. In the first half of this year, the surveyed urban unemployment rate was about 5.1%, and we have added over 7 million urban jobs, which show in turn that China’s economy has been running within a reasonable range.

Li Keqiang said that we are encouraging “mass entrepreneurship and innovation” as the new momentum of economic growth. He said that through mass entrepreneurship and innovation, on average over 10,000 new market entities have been registered each day since last year. There are also positive changes in China’s economic structure. For instance, consumption contributes to over 60% of the GDP, the service sector accounts for almost 50%, and the growth rate of high-tech industries is over 10% - all these new changes are what we have been promoting with efforts and are glad to see.

Li Keqiang said that there has been overall stability in China’s economic performance, despite certain moderation in speed. The overall trend is positive, yet there are also difficulties to overcome, because we are pressing hard ahead with structural reform to advance structural adjustment. During this process, owing to the replacement of development driving forces, it is only natural to see fluctuations in some of the economic indicators on a monthly or quarterly basis. This has happened this year, last year and the year before last as well, but the economy is still running within the proper range. Therefore, We will stick to the basic orientation of our policy, continue making efforts to advance reform and opening-up, and promote structural adjustment. Surely, we will also step up ranged-based, targeted and discretionary regulation to maintain steady economic performance within the proper range and create conditions for structural reform and adjustment.

He said that we will not be swayed by short-term fluctuations in certain economic indicators, nor take them lightly, but to undertake preemptive adjustment and fine-tuning timely and appropriately and step up targeted macro regulation. The Chinese people have the wisdom and the Chinese government has the capability to keep the economy growing at medium-high speed and towards medium-high level. We have confidence to achieve this.