China has full confidence and capability to overcome various difficulties to ensure sound and fast economic growth for an even longer period of time, said Premier Wen Jiabao on Saturday.

Addressing the opening ceremony of the 2008 Summer Davos Forum in the north China port metropolis of Tianjin, Wen said China is in the stage of rapid industrialization and urbanization, and has huge potential for economic growth. The important period of strategic opportunities for China's development will last quite a long time.

Despite the heavy snow and sleet storms and the devastating earthquake and a complex situation both at home and abroad the nation faced, China have overcome difficulties one after another and maintained the momentum of steady economic growth.

"There are many favorable conditions for China to maintain sustained and fast growth, such as abundant supply of labor and capital as well as huge potential of increased domestic consumption and investment demands, vast market and more competitive and dynamic enterprises," said Wen.

The demands for investment, consumption and export are growing in a more balanced way. The economic fundamentals in China remain unchanged and the economy is moving in the direction envisaged in the macro-economic control policy, he added.

The two-day forum, also known as the New Champions 2008, has attracted about 1,400 participants from nearly 90 countries and regions, including business elite and senior officials, to discuss topics about the theme "The Next Wave of Growth".