Premier Li Keqiang has delivered a speech to OECD officials, suggesting that while China's economic situation remains sound, it should also be put into context.

Chinese Premier Li Keqiang addresses the Organization for Economic Cooperation and Development in Paris on July 1, 2015. [Photo: gov.cn]

"China remains the world's biggest developing country. In terms of aggregate the economy, it is true that China ranks as the world's second. But in terms of per capita GDP, China's per capita GDP is only 7,589 US dollars -- 65 percent of the world's average level, one seventh of the US, one fifth of the European Union, ranking as the 80th in the world."

At the same time, Li Keqiang says stabilizing the global economic situation, increasing employment and promoting sustainable development remain challenges for every country.

The Premier says a series of measures are being implemented in China to try to face these challenges.

He says they include the broader reform of China's overall economic structure, easing market access and encouraging mass entrepreneurship.

"Through our hard work, we have the ability and the confidence to achieve the target of around 7 percent of GDP growth for this year. If the Chinese economy indeed grows by 7 percent this year, the increased volume will be bigger than the 7.4 percent GDP growth last year, so if the Chinese economy continues to maintain such a medium to high level growth rate, in 10 years or even 10 plus years and by the middle of the century, the dream of the people to make the country a mid-level developed country will be achieved and realized."

Mario Pezzini, director of the OECD Development Centre, says they believe the path of "new normal," the adjustment of the economy toward more sustained growth, is the right direction for China.

"The most important right now is innovation, rather than expanding the scale. We should develop the value and effect of what we do. I think innovation is crucial for many countries, such as OECD and China. I admire China's vision that the country focuses on mid and long term development rather than short-term interests, and also takes into account of the environmental burden. It is correct. So I'm not worried whether China's GDP growth can reach 7 percent or not. The quality of development is more important."

Li Keqiang's time at the OECD headquarters in Paris is part of his 4-day visit to France, which has also seen him oversee the signing of a number of economic agreements connected to nuclear energy and air transport.

His time in France is the first by a Chinese premier in nearly a decade.

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