DALIAN — Premier Li Keqiang said that China will build a market-oriented, internationalized business environment based on the rule of law in efforts to further energize market entities.

Premier Li made the remarks when addressing the opening ceremony of the Annual Meeting of the New Champions 2019, also known as the Summer Davos Forum, in the city of Dalian on July 2.

China is pushing forward greater tax cuts and fee reductions, and further relaxing restrictions on market access, Premier Li said.

The country will ensure impartial and fair regulation, improve government services, and strictly protect property rights according to the law, the Premier noted.

Premier Li also added that the government will offer strong support to middle, small and micro enterprises by encouraging financial institutions to provide greater credit supply through inclusive financial services.

2019’s forum features the theme of “Leadership 4.0: Succeeding in a New Era of Globalization.” More than 1,900 politicians, business people, scholars and media representatives from over 100 countries have attended the event.

Established by the World Economic Forum in 2007, the summer forum is held each year in China, alternating between the port cities of Dalian and Tianjin.