![]() Growth in high-tech industries is notably higher than the entire industrial sector. Today, the services sector already accounts for half of China’s GDP, and consumption contributes 60 per cent to growth. What is more encouraging is that China’s economic structure is rapidly improving. And the 7 per cent growth is in fact among the highest of the world’s major economies. ![]() Because we are talking about a US$ 10 trillion economy, for which 7 per cent growth actually generates more increase in volume than the double-digit growth in the past. Given the slowdown in global growth, the 7 percent growth China achieved in the first half of the year is not at all easy. We are capable of meeting the main goals and tasks set for economic and social development this year, and this will lay a solid foundation for sustainable growth in the years to come. People’s creativity and entrepreneurial passion has given us confidence to overcome the challenges. Although difficulties remain, there are more opportunities than challenges. My message is this: despite the moderation in speed, the performance of the Chinese economy is stable and moving in a positive direction. I hope the story I shared with you could somehow help answer your question about the status and direction of the Chinese economy and the future of the world. In this context, the theme of the meeting – Charting a New Course for Growth – reflects our collective wisdom and consensus, and points the way for the future. The more complex and intricate the situation, the more we need confidence and hope. Many international institutions have downgraded their global economic forecast. Through them, people see the future of our economy, and I believe they are all part of the new blueprint for growth in China and beyond.Īt the moment, global economic recovery is still weak. Whether they succeed in the end, they are all like the new champions. In fact, one could find tens of thousands of small companies like this in China, whose creativity is beyond our imagination. The company has an ambitious plan - to not just upgrade the old machine tools, but also build new and smarter ones by pooling wisdom via a public platform. More importantly, building on the wisdom of its 280,000 registered users, it has offered smart solutions for upgrading machine tools. Their service greatly improved the utilization rate of these machine tools. It has collected data of some 30,000 machine tools in northeast China, and managed to link the production of machine tools with consumers on the demand side. One thing it does is to develop new models for the utilization of machine tools. It has attracted 280,000 registered users through the Internet, and developed nearly 100 maker products. The company, which employs only ten people, has built an impressive business in just two years’ time. I visited a local makers’ space in Dalian after I arrived. I want to welcome all guests who have traveled from afar to Dalian and I also express my sincere thanks to friends from the media. On behalf of the Chinese government, let me extend warm congratulations on the opening of the Annual Meeting of the New Champions. It gives me great pleasure to join you in the beautiful city of Dalian in this golden autumn season of September. A speech by Chinese Premier Li Keqiang at the opening of the yearly meeting of the New Champions 2015, also known as the Summer Davos Forum in Dalian, China.
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