The country will step up efforts to expand opening-up, uphold fair competition and safeguard foreign investors' rights and interests, Li said.

Speaking of China's financial opening-up, Li said the country continued to make new steps in opening its financial sector, and greater financial opening-up helped improve the sector's competitiveness.

The Chinese government also enhanced financial regulation to protect the interests of domestic and overseas investors and consumers, Li said.

Although facing downward economic pressures, China has strived to maintain financial stability, without saddling the economy with excessive money supply. The country has maintained stability of its monetary policy, with timely and pre-emptive fine-tuning, and kept the yuan exchange rate basically stable at a reasonable and balanced level.

"China's financial sector will further open up, and financial supervision and management will become more and more well-regulated," he said.

When talking about difficulties facing private businesses, which contribute more than 80 percent of the country's urban jobs and 60 percent of the country's GDP, Premier Li said the country will work to ensure implementation of tax reduction policies to lower financing costs and make sure enterprises benefit from these policies.

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