China faces 'formidable challenges', says Li

Entrepreneurship

Li highlighted popular entrepreneurship and innovation as new engines to spur growth while pledging to increase supplies of public goods and services.

Li encouraged university graduates to start their own business.

"We will continue to give top priority to employment and the creation of jobs by encouraging entrepreneurship," Li said.

"We need to strengthen employment guidance and education on starting up business; implement the plan to help college graduates find jobs and encourage them to look at the community level to find employment."

Trade

China will move faster to strengthen infrastructure connectivity with neighboring countries and work on talks on free trade zones with the Gulf Cooperation Council and Israel.

China is also working to build the Asia-Pacific Free Trade Zone and will continue negotiations on investment agreements with the United States and the European Union.

The free trade talks are part of China's efforts to pursue the Silk Road Economic Belt and the 21st Century Maritime Silk Road initiatives.

Commemoration of WWII victory

China will host events to commemorate the 70th anniversary of the victory in the world's war against fascism and the Chinese people's War of Resistance against Japanese Aggression.

Li said China will work together with other countries to uphold the victory of World War II and international justice.

Environmental protection

Government pledges to accelerate the promotion of cleaner and renewable sources of energy and tackle pollution by restricting the use of coal and cutting carbon emission.

The consumption of coal will have zero growth in key areas, while the intensity of carbon dioxide will be cut by at least 3.1 percent, said Premier Li.

"For areas affected by severe smog, regions where conserving energy is difficult, and industries with overcapacity, we will strictly control the number of energy-intensive projects and implement policies for reducing coal use, and for replacing coal with alternative energy sources," the report read.

Hong Kong and Macao

The Chinese central government is determined to support the development of Hong Kong and Macao special administrative regions and promote cooperation between the mainland and the two regions, Li said.

"We will give full support to the chief executives and governments of the Hong Kong and Macao special administrative regions in governing their regions in accordance with the law, growing the economy, improving people's standard of living, advancing democracy, and promoting social harmony," the report read.

Cross-Straits relations

The Chinese government vowed Thursday to oppose the independence of Taiwan and keep cross-Straits relations on the right course in peaceful development, Li said.

"We are firmly confident that the peaceful growth of cross-Strait relations is a historical trend that can be neither resisted nor reversed," the report read.