Premier Li made the first inspection tour of 2016 on Jan 4 and 5 in north China’s Shanxi province, which is known for large coal reserves and output.
The relationship between Chinese and US economies continued to grow in 2015, with China surpassing Canada to become the United States’ largest trading partner in November.
China saw an upsurge in mass entrepreneurship and innovation, with a Nobel Prize win and tens of thousands of new businesses.
China’s domestic consumption has become a stronger force driving economic growth thanks to government efforts to restructure the economy.
China’s economy expanded 6.9 percent year-on-year in 2015, according to data from the National Bureau of Statistics.
China’s services sector contributed 50.5 percent to the country’s GDP in 2015, up from 48.1 percent in 2014, official data showed Jan 19.
The economic slowdown indicates the progress of China’s strategic shift away from a dependence on investment and exports toward more sustainable growth driven by consumption and innovation.
China’s economic data in 2015 indicate that its economic transformation is starting to take effect, said a Russian expert.
China is definitely on track in terms of its real GDP growth, said Jim O’Neill, British Commercial Secretary to the Treasury.
Director of International Monetary Fund says China’s economic growth model is going through a legitimate transition.
Chinese home appliance makers are giving dimensions of reality to the Internet Plus strategy championed by Premier Li Keqiang.
Tax revenue from emerging industries rose rapidly in 2015, thanks to the efforts to boost entrepreneurship and innovation.
China expects to export more aviation, transportation and telecommunications technology and products this year, and continue with an industrial upgrade at home.
The trend to greater reliance on consumption rather than investment and industry is one the government has long said it wants to encourage.
Services are now the main drivers of China’s growth. In the third quarter, healthcare, education, law and accounting boosted China’s growth figure.
“Underlying conditions are subdued but stable,” said Julian Evans-Pritchard, an analyst at Capital Economics in Singapore.