China to strengthen economic globalization
We need to identify the key areas of investment and consumption to match people's needs for a better life. We will make sure that our measures to boost such investment and consumption will either directly or ultimately go into improving people's well-being, wherein lies the huge market potential in China. When the Summer Davos Forum was inaugurated here 13 years ago, there were only about 100 million cell phones in China. Who would have imagined that the number would jump to 1.3 billion for individual users today? That is a telling example of the great market potential in China.
In a word, to ensure steady and sound economic development amid the downward pressure, the key is to boost the dynamism of the 110 million market players and unlock the consumption potential of nearly 1.4 billion Chinese people. This will help us realize sustained economic growth in the long run. Thank you.
Klaus Schwab: Your Excellency Premier Li Keqiang, what a pleasure to have you back here for more intense dialogue with the participants. I have to say your speech this morning had a great impact. I had the reaction of the participants. But I know already now we have over 1,000 news stories around the world and all major media referred to your speech. There was particular interest for your laying out further reform processes, particularly also access for the securities market. And I think your speech this morning helped to ensure that there is continued confidence in China's growth and development potential.
I now call on the participants to raise questions.
Patrice Tlhopane Motsepe, Founder and Chairman of African Rainbow Minerals: Thank you very much for the excellent speech at the opening session this morning. China has been a trustworthy and loyal business and trading partner to the developing world, Africa, and the rest of the world. We are committed to ensuring that the win-win trading and business partnerships continue for the benefit of the people of China, Africa and the rest of the world. Now the Foreign Investment Law of the People's Republic of China was promulgated by the National People's Congress this March and will come into effect next year. According to official explanation, the Foreign Investment Law emphasizes the promotion and protection of foreign investment which will improve openness, transparency and predictability of China's investment environment as you emphasized this morning. As a foreign company that has invested and has been operating in China for many years, we pay close attention to this law. I would like to ask what fundamental changes this law will bring to China's business environment? And also, how does China ensure that this law is implemented in real earnest across your country?
Premier Li: China and African countries all belong to the developing world. We have much to offer each other. By pursuing cooperation on an equal footing, we can continue to achieve win-win results.
