Li sets out strategic mission for next 5 years (2)

Quicker reforms

But Li acknowledged that these are not easy tasks and could only be realized through deepening reforms and upholding the rule of law.

In reforming the country's financial sectors, he reiterated the government will carry out market-oriented reforms of interest rates, the currency exchange rate, develop a multi-tier capital market and make direct financing easier.

To improve public well-being, Li said the government needs to reform the income distribution system and narrow the gap between urban and rural areas.

While allowing more private capital to invest in the financial, energy, railway and other sectors, the government will also reform social security, medical and pension insurance to contribute to labor mobility, the premier said.