Premier Li says industrial upgrades will prevent economic hard landing

Premier Li Keqiang sees little risk of a hard landing for the Chinese economy, because the country's healthy economic transformation process relies mainly on industrial upgrades.

Speaking at a press conference on Wednesday, Li said China has, for years, achieved medium to high growth, thanks to achievements made in consumption and industrial upgrades.

Li said China will not adopt mass stimulus measures but will continue to fuel growth momentum through deepening reform.

Governments at all levels are required to continue streamlining administration and delegating power in order to bring more benefits to the public, he added.

Li stressed the responsibility of the government is to respond to the people's needs.