Li: China ready to face challenges

Premier's speech in Davos welcomed by global business leaders, analysts

China plans to withstand downward pressure and continue with its strategic focus in 2015, Premier Li Keqiang told the annual World Economic Forum in Davos.

As the Chinese economy has entered a "new normal", the change in the pace of growth from high-speed to medium-to-high-speed reflects a profound adjustment of the world economy, and is consistent with the law of economics, Li said in a keynote speech on Wednesday.