BEIJING: China will maintain a certain level of economic expansion as it speeds up a transition towards higher quality growth, Chinese state media quoted Premier Li Qiang as saying on Monday.

Global economic development was in a complex period and countries should build consensus and strengthen cooperation, Li was quoted as saying during a meeting with global business executives and other foreign delegates at the China Development Forum in Beijing.

Efforts will be made to solidify confidence and stabilise expectations in the face of challenges, Li was quoted as saying.

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“In the future, while maintaining a certain growth momentum, China’s economy will speed up changes in quality, efficiency, and driving force, and strive to achieve higher-quality development and make people’s lives better,” Li said.

“All these will provide new impetus for world economic growth, and also provide a broad space for the development of companies from various countries in China.”

China will open up its economy wider to the outside world, regardless of changes in the international situation, Li said.

China will connect with high-standard international financial rules, and strive to create a market-oriented, legalised and internationalised first-class business environment, Li added.

China has set a modest annual growth target of around 5% this year after significantly missing its target for 2022.