Chinese Premier Wen Jiabao delivers a speech at the opening ceremony of the second Annual Meeting of the New Champions organized by the World Economic Forum at Tianjin Binhai Convention and Exhibition Center in north China's Tianjin Municipality. [Ma Ping/Xinhua]

Chinese premier Wen Jianbao said, "The reform and opening-up brought a fundamental change to the closed, backward and ossified situation that existed in China for years. It freed people's minds, broke the institutional barriers to development, unleashed the tremendous enthusiasm and creativity of hundreds of millions of Chinese people, injected great vigor and vitality into the nation, and greatly stimulated economic and social development."

He pledged that the country would continue to deepen economic reform and promote political restructuring, and at the same time continue opening-up.

Chinese premier Wen Jianbao said, "China is in a stage of rapid industrialization and urbanization, and has huge potential for economic growth. This important period of strategic opportunities for China's development will last quite a long time. We have full confidence and capability to overcome various difficulties to ensure sound and fast growth of the national economy for an even longer period of time."

Wen Jiabao also told the conference that demand for investment, consumption and exports are growing in a more balanced way. He said the economic fundamentals in China remain unchanged, and the economy is moving in the direction envisioned in the macro-economic control policy.

The two-day forum has attracted about 1,400 participants from nearly 90 countries and regions. The gathering of business leaders and senior government officials will focus this year on discussing the next wave of global economic growth.

(CCTV September 28, 2008)