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China will not use large-scale quantitative easing to bolster the economy and instead will boost market vitality through measures such as tax and fee cuts to stabilize economic growth and seek high-quality development, Premier Li Keqiang said on Friday.

China's billionaires and successful entrepreneurs are embracing tai chi, a homegrown gentle exercise or martial art characterized by rhythmic circular movements, to boost not just personal well-being but company profits, launch new products and services, and transform corporate cultures.

China will step up sharing its experience with all parties on poverty reduction in East Asia to narrow development gaps between different regions, he said.

China will stick to its pledges to continue to promote opening up, facilitating global economic cooperation and communication, he said.

China's CAGR (compound annual growth rate) of venture investment in innovation has been up to 41 percent since 2012. Unlike in the US, where financing in innovative industry mainly relies on venture capital, multiple Chinese technology enterprises make a great deal of investment in internet and AI with their own funds. This establishes a relatively loose financing environment for the development of domestic innovative industry.