Chinese Premier Li Keqiang promises that government is ready to put brakes on the use of government power, just so that the private sector can grow.

This way, he says, businesses will operate better and generate more jobs.

Li says, he is also working on minimizing the number of approvals required to open business in China.

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He reports that so far, this effort has taken off, with more than 10,000 new enterprises registering every day.

This figure represents an increase of 50 percent compared to the previous year.

Li also guarantees that if employment will suffer, the government can turn it around, and come up with ways to manage the country's economic slowdown.

Li made these statements in a rare two-hour-long televised news conference.

He also explained that government is trying to keep growth at a high level, while at tha same time, trying to balance it with structural reforms.

He said government is ready to take more forceful measures, should growth starts to affect jobs and income.

"The good news is that in the past couple of years, we did not resort to massive stimulus measures for economic growth," he noted.

In the last four months, as moderate growth began to set in, the Central Bank cut interest rates and decreased the amount of reserves that banks were required to hold.

The Chinese Premier left behind the operations of state-owned companies, which have dominated the Chinese economy for the past 10 years.

There are plans to improve the state companies in the near future, but these changes are not intended for privitization, but on  ways to maximize profit.  

The Chinese leader also tried to downplay tensions in China's relations with the United States, and in Hong Kong, where a pro-democracy movement is gaining ground.

On international issues, particularly on Ukraine, Li said China backs the European country's stand on territorial integrity.

As to Russia's annexation of Crimea, the Chinese Premier simply said, this issue is quite complex.

TagsLi Keqiang