China An 'anchor' Of Global Recovery: Premier Li

Premier Li Qiang on Thursday said the nation would take up its responsibility as the world's second-largest economy and act as an "anchor" for global peace and recovery.

He made the remarks at the official opening ceremony of the annual Boao Forum in Hainan, an event dubbed Asia's version of the World Economic Forum in Davos.

Addressing leaders and business heavyweights from more than 50 countries, Li said the region had to join hands to fight against unprecedented headwinds.

"Asia and the entire world are at a crossroads of history. We must hold high the banner of the vision of a community with a shared future for mankind, and join hands to foster an Asian community with a shared future. We need to work together to build an anchor for world peace and source of impetus for global growth and a new pacesetter for international cooperation," he said.

Li said that China's economic performance had improved in March, and that Beijing would introduce a series of measures to bolster domestic demand.

The premier also said the country would not seek modernisation through war, saying that any conflict would compromise Asia's development.

"Peace is the prerequisite of development. Without a generally peaceful and stable environment, Asia's remarkable progress in the past several decades would not have been possible. To achieve greater success, chaos and conflicts must not happen in Asia, otherwise the future of Asia would be lost."

Chief Executive John Lee attended the opening session and was seen in a group photo with Li and other Hong Kong representatives on Thursday morning.

On Wednesday, the CE met Hainan authorities and visited medical tourism facilities in the province. Lee said he was looking to strengthen ties between Hainan and the SAR, and contribute to trade development there.

The four-day Boao gathering comes amid rising tensions between China and the US, and as Beijing rolls out a charm offensive to woo overseas business and investment.

Also speaking at the forum, Singapore's prime minister Lee Hsien Loong called for stronger ties within Asia as the region grapples with a troubled global environment.

The Singapore leader expressed hope that Beijing and Washington can resolve their differences, saying that any clash between the superpowers will have "grievous consequences for themselves and the world".

"We hope that China and the United States will succeed in stabilising their relationship and establishing mutual trust and respect to cooperate in areas where their interests are aligned."

Meanwhile in her speech, the head of the International Monetary Fund, Kristalina Georgieva, welcomed China’s engagement in the Common Framework programme and participation in the new Global Sovereign Debt Roundtable.

But she also warned of the potential impact of trade fragmentation in Asia, saying countries in a stronger position should help others with debt woes.