Premier Li to give key Davos address

Premier Li Keqiang will call for an "objective'' and reasoned understanding of the Chinese economy from the international community in his speech at the 45th Annual Meeting of the World Economic Forum next week, a leading official said on Jan 16.

Li will address 2,500 government and business leaders in the Swiss ski resort of Davos next week to bolster global confidence in the economy as it goes through structural change, Vice-Foreign Minister Li Baodong said at a briefing on the forthcoming WEF meeting.

He will also meet representatives of the International Business Council in Davos - mostly chief executive officers of multinationals - and meet the founder and executive chairman of the WEF, Klaus Schwab.

The Premier will explain the economy's "new normal" and boost understanding on China's reform and opening up, the vice-foreign minister said.

The world's second-largest economy has transitioned from rapid growth to a "new normal" of slower, yet more sustainable growth. The "new normal" emphasizes that a manageable slowdown is not a danger, but a lack of reforms could be fatal for long-term development.

It will be the first time in five years for a Chinese leader to attend a WEF Annual Meeting in Davos. Li attended the 2010 annual meeting as vice-premier.

The forum, from Jan 21 to 24, will discuss major world challenges under the theme "The New Global Context."

Over 2,500 participants from more than 140 countries representing business, government, international organizations, academia, civil society and the media are expected to participate in this year's annual gathering.

According to the WEF, over 40 heads of state and governments are expected to attend the four-day meeting featuring 280 sessions and workshops.