Premier Li Keqiang delivers a keynote speech at the opening of the Annual Meeting of the NewChampions in Tianjin on June 27, 2016. [Feng Yongbin / chinadaily.com.cn]

TIANJIN -- China will cut excess capacity in steel and coal as part of its economic structuralreform, Premier Li Keqiang vowed as he addressed the opening of the Annual Meeting of theNew Champions 2016, or Summer Davos, in Tianjin on Monday.

The government will continue to focus especially on supply-side structural reform by reducingsupply of inefficient and low-end products and services while encouraging more in-demandand premium ones, a process that will boost economic growth, Li told delegates at the forum.

An important part of the supply-side reform is cutting excess capacity in sectors includingsteel and coal, and this will be further pushed mainly "with a market-oriented and law-abidingapproach," he said.

According to the premier, governments and enterprises will take measures to reemploy steelworkers and coal miners made redundant.

"Overcapacity is a global challenge and China stands ready to be a responsible country withall these proactive measures," he said.

The government will reform on its own services to cut red tape and regulate emerging sectorsor business models, Li said.