DALIAN, June 24 -- Chinese Premier Li Qiang said on Wednesday that innovation-driven development is the key to China's long-term economic resilience and steady growth.

Li made the remarks while addressing the opening plenary of the 17th Annual Meeting of the New Champions, also known as the Summer Davos, in northeast China's coastal city of Dalian.

He attributed China's steady and healthy economic growth to a stable environment and innovation-driven development.

The country's innovation is earned through years of strengthening its own capabilities and relentless hard work, he said.

It has also been driven by wide-spread application across industries, and cultivated through a robust ecosystem, he added.

Full text of Li Qiang's address at opening plenary of the 17th Annual Meeting of the New Champions