Li Keqiang explains GDP target, urges innovation for growth

Chinese Premier Li Keqiang has joined the group discussions at this year's sessions of the National People's Congress.

Much of the discussion has been centered around his government work report released at Sunday's start to this year's sessions.

Sitting in on a round-table among a group of lawmakers from Shandong, Premier Li Keqiang says this year's growth rate will still come in at a medium to high level and will be enough to support their employment goals.

"This year, we put heavy emphasis on employment when we set our target for economic growth. We have raised the target for employment with an increase of eleven million jobs. Only with employment can we create wealth," Li said.

In his government work report delivered to the opening of the NPC on Sunday, Li Keqiang announced the government is trimming its growth target to 6.5% this year from the 6.7% achieved last year.

At the same time, the government has increased its job creation targets to 11 million urban jobs this year, up from the 10 million initially planned last year.

In the end, around 13 million new jobs were created in China in 2016.

To maintain the momentum, Li Keqiang told the lawmakers from Shandong that more needs to be done to create favorable environment for both innovation and entrepreneurship.

But he's also warned that economic growth in China needs to be more sustainable.

"We have slightly adjusted the speed of economic growth in order to put more focus on improving growth quality and efficiency. We need to upgrade and lead the real economy to new levels," the premier added.

Li Keqiang also stressed plans to further cut taxes and fees, as well as providing more support for emerging industries and new business models.

Among those sitting in on the panel discussion with Li Keqiang was Zhou Yunjie, President of Haier, one of the world's leading domestic appliance manufacturers.

"So far this year, from January to February, Haier's sales revenues have increased 20%, and our profits have increased 30%," said Zhou, adding that his company's new strategies to work directly with small businesses this year is already paying off.

Apart from economic growth, Premier Li Kiqiang also said more attention will be directed toward people's wellbeing, with a focus on areas such as education, medical care, housing and environmental protection.