Chinese Premier Li Keqiang Photo: gov.cn

Chinese Premier Li Keqiang met with overseas participants to the China Development Forum (CDF) 2021 via video link on Monday, talking about the relationship between Chinese economy's growth rate and quality.

Attending the virtual meeting at the Great Hall of the People in Beijing, Li said that setting this year's GDP growth goal at above 6 percent takes into account the current economic growth that is still in recovery mode. He also highlighted the need for a steady alignment with the goals for the next two years, in response to a question about the relationship between growth rate and quality, according to a statement on the website of the central government.

A growth rate going north of 6 percent is not low, with possibilities left open, and it could be even higher in practical operation, the premier stated, noting that "we're not setting plans, but guiding expectations."

Among the CDF's foreign participants who joined the late-night meeting were Apple CEO, Tim Cook, Tesla CEO, Elon Musk, Oliver Zipse, Chairman of the Board of Management of BMW AG, Maurice Greenberg, Chairman and CEO of Starr Companies, Roland Busch, President and CEO of Siemens AG, World Bank Managing Director of Operations, Axel Von Trotsenburg, Florent Menegaux, CEO of Michelin, and Noel Quinn, Group CEO of HSBC Holdings plc. 

The annual high-level event, hosted by the Development Research Center of the State Council, saw the largest foreign attendance this year, with the participation of executives of more than 100 foreign firms, as well as an array of foreign influencers, economists and leaders of global financial institutions.

The Chinese economy, while maintaining steady growth, should strive to improve quality and increase efficiency, which requires relatively adequate employment, a continuous increase in people's income and a continuously-improved ecological environment. It also needs to improve the economic structure and reach a continued increase in labor productivity, the premier said.

A difficult job market for this year was also mentioned in his remarks. The country needs to ensure employment for over 11 million and keep the economic growth within a reasonable range, as roughly 14 million people would enter the urban workforce this year, according to the premier, calling for a balance between growth, income and employment. He also warned against pursuing economic growth at the cost of high energy consumption and pollution.

Meanwhile, efforts are required to improve the vitality of market entities and the benefits they can reap, he added, pledging to continue the push for urbanization, unlock the huge potential of domestic demand and reinforce the role of consumption in the revitalization of growth.

Global Times