Chinese Premier Li Qiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, presides over a symposium on the economic situation attended by economists and entrepreneurs in Beijing, capital of China, Oct. 13, 2023. (Xinhua/Gao Jie)

Chinese Premier Li Qiang has stressed the importance of macro-policy regulation and nurturing new drivers and advantages for high-quality development.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks on Friday while presiding over a symposium on the economic situation attended by economists and entrepreneurs.

Since the third quarter of this year, the Chinese economy has sustained its recovery momentum, with positive factors amassing, which has laid a solid foundation for achieving the annual economic development target, Li said.

"The fundamentals for China's development have remained unchanged, strengths for development remained unchanged and keep expanding, and new growth drivers are burgeoning," Li said.

The external environment is becoming more complex and grave, and China is in a critical period of economic recovery and industrial transformation and upgrading, Li said, acknowledging the challenges ahead. Under these circumstances, more should be done to firm up confidence, take targeted measures and remain calm to cope with difficulties, he said.

Noting that there are both opportunities and challenges facing the economy, the premier called for efforts to maintain resolve and pursue progress while ensuring stability.

Development strategies, economic policies, and macro-regulation should all focus on high-quality development, Li said.

Li demanded efforts to deliver macro-policy regulation more effectively, strengthen policy prediction and research, and step up nurturing new drivers and advantages for high-quality development.

He highlighted his hope that entrepreneurs will play a bigger role in promoting high-quality development, calling on economists to provide more suggestion regarding high-quality development.