"Domestic demand has become a significant pillar [for the economy]," Li said.

Li believes a rumbling China engine will generate more opportunities for the rest of the world. The country imported 1.6 trillion U.S. dollars of goods last year, while outbound trips amounted to 130 million.

While voicing confidence, the premier did not shy away from challenges.

"Short-term and small fluctuations of economic indicators are unavoidable but the long-term steady trend will not change," Li said, ruling out the possibility of a hard landing.

China will continue to propel its supply-side structural reform, streamline administration, delegate power to lower levels, grant easier market access, push forward entrepreneurship and innovation, downsize saturated sectors, and stimulate consumption, according to Li.

From Tuesday to Thursday, around 1,500 politicians, officials,entrepreneurs, scholars and media representatives from over 90 countries and regions will assemble in Dalian to discuss topics from inclusive growth to the new industrial revolution.

Established by the World Economic Forum in 2007, the summer forum is held each year in China, alternating between the port cities of Dalian and Tianjin.

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