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Many young people have to pass a dozen or more examinations for various professional qualifications before getting a job, Li said, adding the rampant government approvals have caused heavy economic burden to the public.

During his June 12-15 visit, Liu witnessed the signing of two cooperation deals reached between the two sides on cultural exchange.

China and South Korea also pledged to promote bilateral trade amid the instability of the world economy and expand trade volume to 300 billion U.S. dollars in 2015, the statement said.

Addressing the 18th St. Petersburg International Economic Forum, Li said the annual event had grown into an important platform for representatives of various countries to discuss ways of boosting world economic development.

Li said the government will continue to cut the burdens on enterprises by simplifying administrative procedures and reducing transaction and financing costs.