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Highlights of Chinese premier's Davos speeches
BY 2015-09-11 07:24:56

BEIJING, Sept. 10 (Xinhua) -- With the global economy facing great downward pressure, speeches by Chinese Premier Li Keqiang at the annual World Economic Forum (WEF) have always been the focus of global attention.

Amid fears that any failure in the world's second largest economy which has always been an engine for world growth, should have great spill-out effects on other economies, Li's speeches offered reassurance and give confidence to his international audience.

The following are highlights of the Chinese premier's three speech since 2013.

On Sept. 11, 2013 in the Chinese city of Dalian:

"Confronted with downward pressures, we stayed committed to the overall policy of seeking steady economic progress. We took a host of innovative policies and measures with a holistic approach to pursue steady growth, conduct structural readjustment and promote reform, which served to ensure a smooth economic performance."

"Looking ahead, I see bright prospects for China's development. We are well placed to sustain a healthy economic growth in the long run. The process of industrialization and urbanization is far from being completed in China, which promises a big room for regional development and huge market potential; reform, an overriding trend that is irreversible, is bound to unleash fresh institutional vitality; and the hard work, talent and perseverance of the Chinese people will always provide the most important support for development."

On Sept. 10, 2014 in the Chinese City of Tianjin:
"Facing this challenging environment, we have continued to follow the general principle of making progress while maintaining stability. We have stayed the course and pursued a proactive approach. Instead of adopting strong economic stimulus or easing monetary policy, we have vigorously promoted reform and economic readjustment, and made efforts to improve people's lives. As a result, we have maintained steady economic performance."
"The positive changes in China's economy are not only reflected in the increase of jobs and residents' incomes, but also in the structural upgrading. ... Deepening structural readjustment has improved the quality of economic growth. On the basis of carrying out reform and innovation, we have reduced overcapacity, eliminating outdated capacity in particular, and fostered new growth areas."

On Jan. 21, 2015 in the Swiss resort town of Davos:
"The economy will enter a more advanced stage of development, with more sophisticated division of labor and a more optimized structure. If I could compare the Chinese economy to a running train, what I want you to know is that this train will not lose speed or momentum. It will only be powered by stronger dynamo and run with greater steadiness, bringing along new opportunities and new momentum of growth."
"We are taking effective measures to fend off debt, financial and other potential risks. China's high savings rate, which now stands at 50 percent, generates sufficient funds for sustaining economic growth. Besides, China's local debt, over 70 percent of which was incurred for infrastructure development, is backed by assets. And reform of the financial system is making progress."
"What I want to emphasize is that regional or systemic financial crisis will not happen in China, and the Chinese economy will not head for a hard landing."

(Editor:Grace) (From:xinhua)
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