China seeks development through economic restructuring

He underlined the importance of turning regional resource advantages into economic strength by developing green, recyclable and low-carbon industries.

Active steps will be carried out to advance urbanization in the regions in order to further boost domestic demand, he said.

Zhang also discussed environmental efforts, saying that the government will work to reduce air pollution, improve soil and water quality and participate in global efforts to mitigate climate change.

People's well-being and the improvement of their material and cultural lives will also be prioritized, Zhang said.

To achieve this end, the government will work to increase household incomes and reform the income distribution system, prioritize employment, create equal access to basic public services and increase the transparency of the legal system, he said.

China will deepen reform and opening up across the board, he said.

Zhang said a new round of reform measures has been unleashed in China, citing 133 items that previously needed central government administrative approval but have been canceled or delegated to lower levels since March.

The country will continue to give more power to the market, society and enterprises, the vice-premier said.

In addition, China attaches equal importance to imports and exports and is firmly opposed to protectionism of all forms, he said, adding that continuous efforts will be made to protect the legitimate rights of foreign investors operating in China.

According to Zhang, China had given approval more than 740,000 foreign-invested companies by the end of 2012, with combined direct investment surpassing $1.2 trillion.

China is expected to import goods worth $10 trillion over the next five years and invest $500 billion in foreign countries, he added.

The 2013 Fortune Global Forum is being held in China for the fourth time. Three previous forums were held in Shanghai in 1999, Hong Kong in 2001 and Beijing in 2005, respectively.