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Since its founding 2011, it has opened 18 elderly institutes and provided healthcare and support to over 54 communities.

As the world economy is undergoing a weak recovery and the Chinese economy is facing downward pressure, China must take care to maintain appropriate economic growth and vigorously carry out supply-side structural reforms, he said.

Li said China will continue to push forward with financial market reform and construction of legal system, and press ahead with developments to the yuan exchange rate formation mechanism in line with the principles of independence, gradualism and controllability.

In the past two years, China has phased out over 100 million tonnes of steel-making capacity involving some 1 million employees. With high priority given to the rights and interests of enterprise employees, the government has taken strong steps to resettle these people or get them reemployed with other jobs.

Situated at the heartland of Europe, the Czech Republic enjoys advantageous location and strong industrial foundation. Beijing and Prague have huge cooperation potential in manufacturing, nuclear power and infrastructure construction.