Premier meets with representatives of the WEF's Intl Business Council

Chinese Premier Li Keqiang (L) meets representatives of the International Business Council of the World Economic Forum (WEF) in Davos, Switzerland, on Jan. 21, 2015.[Photo/Xinhua]

Admitting to fluctuations in China's real estate market, the Premier said that China's urbanization process is developing at a steady pace and that efforts will be made to regulate shadow banking.

With regard to the fight against climate change, Li said China had set a target for its greenhouse gas output to peak "around 2030", and intends to increase the share of non-fossil fuels in primary energy consumption to around 20% by 2030.

As for financial reform, Li said China's financial market will be more open to the world, while pushing forward cross-border renminbi investment and settlement, as well as offshore renminbi business.

Over 100 business leaders from around the world attended the meeting.