Premier calls for boosting pace of economic growth

Premier Li Keqiang called at a meeting on Tuesday for boosting the nation's economic transformation and pace of growth by promoting technological innovation, emerging industries and effective investment and consumption.

Hundreds of governmental officials and well-known entrepreneurs were present at the meeting, which focused on enhancing new development concepts and new economic drivers. Among them, were Lei Jun, founder of gadget maker Xiaomi, and the automobile company BYD's chairman, Wang Chuanfu.

Amid domestic structural conflicts and downward pressure, China's economy can no longer proceed with the old development model as it confronts a sluggish world economic recovery, the premier said.