Premier Li Keqiang and Klaus Schwab, founder and executive chairman of the World Economic Forum, at the opening ceremony of the 2017 Summer Davos Forum in Dalian, Northeast China's Liaoning province, June 27. [Zhu Xingxin/China Daily]

Globalization benefits all

Economic globalization has greatly facilitated the flow of goods and capital, and all countries can benefit in the course, be it developing or developed countries, he said.

However, the problems some countries have encountered are not caused by globalization, he added.

"Just like when we sprain our ankle when walking on the road, we should not blame the uneven road and just stop walking," Li said.

During the past 30 years or so of the country's opening-up, Chinese consumers have gained more choices of products from all over the world, he said, adding that this would be unimaginable without opening up and globalization.

"We need to better steer and adapt to economic globalization, promote trade and investment liberalization and facilitation, and at the same time, reform and strengthen international trade rules to ensure equal rights, equal opportunities and equal rules for all the countries in international economic cooperation," he said.

Unprecedented opportunities

This year's meeting is for the purpose of responding to those changes and uncertainties with the stability and creativity that ensure the world continues the progress of human civilization, the premier said.

"The world is making continued progress against the backdrop of globalization and the round of industrial revolution is giving birth to new industries, business models and technologies. Never before have we human beings been presented with so many opportunities of development," Li said.

"We also see that the global economy recovery is progressing but the foundation is not yet firmly established and geo-political risks are on the rise and the structural challenges still abound."

Li noted that he believed the world can use stability that keeps growing amid innovation and changes to defeat uncertainty as long as holding firm and indomitable spirit.

The three-day event is expected to attract over 2,000 prominent personalities from politics, business, civil society, academia and the arts.

This year's meeting, themed "Achieving Inclusive Growth in the Fourth Industrial Revolution," focuses on how technology and policy innovations can accelerate a more inclusive style of economic growth that prioritizes meaningful job creation and sustainable development.