Chinese Premier Li Keqiang spoke at the opening of the Summer Davos forum in Tianjin this morning. He reaffirmed the country's determination to continue opening its economy. CGTN'S WANG HUI has more.

More than 2,000 participants from over 100 countries are taking part in this three-day summer Davos in Tianjin.

The theme of this year's meeting is Shaping Innovative Societies in the Fourth Industrial Revolution. It's a transformation powered by new technologies, including artificial intelligence, the Internet of things and gene editing. It's already impacting societies, economies and geopolitical landscapes.

At the opening ceremony, Chinese Premier Li Keqiang stressed the significance of this new industrial revolution.

LI KEQIANG CHINESE PREMIER "A new round of industrial revolution has come into being in the age of globalization. We have gone through several rounds of industrial revolutions, and they have all boosted the globalization of trade. And this new round of industrial revolution has come into being against the backdrop of globalization at a time when mankind is facing new challenges and has to come up with new wisdom to respond to these new challenges."

2018 marks the 40th anniversary of China's reform and opening up. Premier Li once again insisted that China will continue to deepen reform and open the economy.

LI KEQIANG CHINESE PREMIER "China's Reform and Opening up in the past 4 decades is also in keeping with the trend of globalization. In his keynote speech in the winter Davos forum last year, President Xi Jinping once again stated China's firm commitment to opening up. China will further open itself at a faster pace."

Premier Li also announced a series of measures to create a better business environment. They include cutting taxes and fees for companies, treating both domestic and overseas businesses equally, and implementing stricter rules to protect intellectual property rights.

WANG HUI TIANJIN "Since Li Keqiang became Chinese premier in 2013, he has spoken at this forum every year. This year, with trade protectionism and unilateralism on the rise, he emphasized the importance of globalization, and conveyed a strong determination from Beijing to keep a healthy and stable development going for China's economy. WANG HUI, CGTN, TIANJIN.