"Countries need to leverage their comparative advantages to share the fruits of development and address trade imbalances. Rather than closing their doors, countries should pursue greater opening-up and expand mutual openness," Li said.
He suggested greater effort to push forward structural reform and guard against financial risks.
On the Chinese economy, Li said it has shifted from investment- and export-driven growth to one being driven by a combination of consumption, investment and export, and from quantitative expansion to qualitative growth.
The value added of the services sector accounted for 54.1 percent of GDP growth and consumption has become the primary growth driver, contributing 63.4 percent to economic growth in the first half of 2017.
"China remains a leading performer in economic growth and contributes more than 30 percent of global growth," said Li.
Li expressed confidence in medium-high economic growth, saying the Chinese economy grew by 6.9 percent in the first six months and such momentum has been maintained in the second half of the year.
He attributed China's growth to the government's efforts to streamline administration, strengthen regulation, improve services, as well as cut red tape and bring down taxes and fees.
Noting that China's biggest strength in development lies in its rich human resources, Li said China has launched a mass entrepreneurship and innovation initiative across the country, which has greatly unleashed market vitality and social creativity.
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