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BEIJING, Jan. 15 (Xinhua) -- Premier Li Keqiang said on Friday China is willing to strengthen investment and financing cooperation with the European Bank for Reconstruction and Development (EBRD).

"China should put unyielding effort into restructuring by eliminating outdated capacity and forbidding the construction of new capacity," he said.

China's non-acceptance of and non-participation in the arbitration conforms with the general practice in addressing international disputes. National consent is the very core and soul of international law. The key to resolving disputes over territory and maritime rights and interests is for parties directly concerned to reach consensus ad idem. The Philippines' unilateral initiation of arbitration is by no means aimed at resolving the dispute. Rather, it is to further complicate the situation and to vilify China. What the Philippines is doing is an out-and-out political provocation. By contrast, China's way of addressing disputes over territory and maritime rights and interests through bilateral consultations and negotiations has proven effective. As a matter of fact, China has properly settled land boundary issues with 12 countries and completed the delimitation of maritime boundary in the Beibu Bay with Vietnam. China will continue to follow its current practice and will not accept arbitration as a way to settle disputes over territory and maritime rights and interests.

The leading group stressed that hukou registration should be coordinated with family planning, adoption, aid for the homeless and nationality management.

Chen Zhu, vice chairman of the NPC Standing Committee, said he was worried that some local governments may face de facto bankruptcy in the future.