China’s Premier Meets Top Business Leaders in Davos
- Premier Li Keqiang holds dialogue with top international business leaders at World Economic Forum
- Premier answered questions and offered guidance on China’s economic reform agenda
- For more information about the Annual Meeting 2015: http://wef.ch/davos15
Premier Li Keqiang used a special meeting with key international business leaders at the World Economic Forum to announce a number of reforms aimed at stimulating further investment in the Chinese economy and underline the country’s commitment to further reform.
During the dialogue, Premier Li explained that China’s reform priority was to balance the government-market relationship. He also committed to further administrative reforms aimed at creating a level playing field for all market entities, to improving transparency in government budgets, and increasing government spending on public goods and services.
Social inclusion would be promoted, the premier said, through the development of a multilevel capital market backed by small and medium-size banks, as well as private banks. Meanwhile, foreign investors heard that China would open its services sector and lower the threshold for foreign investment in China.
Premier Li also resolved to contribute to the stability of the global financial system through an expansion of renminbi (RMB) settlement in cross-border trade and investment, as well as offshore RMB businesses.
“The conversation with Premier Li is a great example of today’s open, honest and productive dialogue that Chinese leadership has with the global business community,” said Klaus Kleinfeld, Chairman and Chief Executive Officer of Alcoa and International Business Council Chairman. “The scope and scale of China’s current economic development is impressive, and Premier Li encouraged international companies to grow their cooperation and engagement in China’s transformation,” he added.
“It was informative to hear more about China’s strategy for growth,” said Ellen Kullman, Chair and CEO of DuPont and Chair of the US-China Business Council. "We are encouraged by China’s ambitious reform direction, and are hopeful the US and Chinese governments can develop a long-term plan for economic and commercial cooperation.”
The Co-Chairs of the Annual Meeting 2015 are: Hari S. Bhartia, Co-Chairman and Founder, Jubilant Bhartia Group, India; Winnie Byanyima, Executive Director, Oxfam International, United Kingdom; Katherine Garrett-Cox, Chief Executive Officer and Chief Investment Officer, Alliance Trust, United Kingdom; Young Global Leader Alumnus; Jim Yong Kim, President, The World Bank, Washington DC; Eric Schmidt, Executive Chairman, Google, USA; and Roberto Egydio Setubal, Chief Executive Officer and Vice-Chairman of the Board of Directors, Itaú Unibanco, Brazil.
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