Premier Li highlights Asia's integration at Boao

Chinese Premier Li Keqiang (C) welcomes foreign leaders at the 2014 annual conference of the Boao Forum for Asia (BFA) in the coastal town of China's southernmost island province of Hainan on Thursday, April 10, 2014. (Photo: China News Service/Liu Zhen)

Chinese Premier Li Keqiang on Thursday said China will forge ahead with other Asian countries, sharing weal and woe, to open up new vistas from the continent's development.

China's economy has got off to a stable and good start this year, Li said when delivering a keynote speech at the opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2014 held in Boao, a coastal town in south China's Hainan province. [Special coverage]

The country's development has strong resilience, and it has the capabilities and confidence to keep the economy functioning within the proper range, despite existing downward pressure and difficulties, the premier said.

The world's second largest economy set its economic growth target for 2014 at 7.5 percent.

"As long as there is fairly sufficient employment and no major fluctuations, actual GDPgrowth will be within the range, be it slightly higher or lower than the 7.5-percent target," Li said.

China will generate impetuses for growth by means of deepening reform, adjusting economic structure and improving people's livelihood, the premier said.

He emphasized that the world's second largest economy has entered a new stage of improving quality and performance, after registering rapid growth over the past three decades and more.

The government will not resort to short-term stimulus policies because of temporary economic fluctuations and will pay more attention to sound development in the medium to long run, said the premier.

Before elaborating on China's economy, Li called on Asian countries to find fresh ideas to re-energize the region in the face of new developments and challenges.

Asian countries need to build a community of shared interests, common destiny and shared responsibilities, Li told delegates.

"Economic integration is central to achieving common development in Asia," said the premier. Asian countries need to work together to further liberalize trade and facilitate investment, as well as upgrade regional and sub-regional cooperation, he added.

The premier also highlighted the importance of a peaceful and stable regional environment for Asia to progress and develop.

He urged Asian countries to build consensus, make active efforts and jointly fulfill responsibilities.

Li underscored China's commitment to peaceful development and its resolution to defend its territorial sovereignty.

"We will give full support to initiatives that help strengthen maritime cooperation," Li said. "On the other hand, we will respond firmly to provocations that undermine peace and stability in the South China Sea."

As an international non-governmental and non-profit organization founded in 2001, the BFA works to promote regional economic integration and bring Asian countries closer to their development goals. The theme for this year's conference is "Asia's New Future: Identifying New Growth Drivers".