The “new normal” of the Chinese economy will create a more favorable business environment for foreign firms, Premier Li said.
Vice-Premier Zhang Gaoli said China will treat domestic and foreign firms equally in antimonopoly law enforcement.
China is adjusting to a more sustainable long-term economic growth model, which will have impact on the global economy.
The Chinese economy will likely step out of the worst period of the current macroeconomic cycle this year or the next, an economist said on June 25.
Justin Yifu Lin, former chief economist and senior vice-president of the World Bank, said growth of 7 percent is both achievable and necessary at Peking University.
Rebalancing the economy by boosting services, consumption and innovation will result in global opportunities, an economist said.
Innovation will help China better tackle the traffic and environmental challenges in its urbanization drive, industry leaders said at the China Development Forum.
China’s coal-dominated energy mix will not change for the next two decades because increased reliance on imported oil poses a threat to the country’s energy security.
China needs to transition to a new coordinated and consolidated model of regional development in order to offset the future challenges of urbanization.
Jacob A. Frenkel, chairman of JP Morgan Chase International: China has become a very, very good example, a shining example of how you can grow.
Daniel Kirchert, president of Dongfeng Infiniti Motor Co Ltd: The idea of the “new normal”, of the transformation from an investment-driven to an innovation-driven economy, is correct.
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