He also noted that the government created 13 million jobs in 2013, the most for several years.

In the first half of 2013, "there was even talk, at home and abroad, that the economy was facing a hard landing", Li recalled.

Chinese Premier Li Keqiang shakes hands with a foreign expert at a seminar held in Great Hall of the People with over 70 foreigners working in China, Jan 21, 2014. [Photo/Xinhua]

He dismissed concerns over an economic slowdown.

"To put it straight, China's GDP growth cannot be compared with a decade ago, when the size was much smaller," he said.

The economy grew last year by 5 trillion yuan ($820 billion), which was its total size in 1994, he said.

"We could find no parallels among the world's major economies in this regard," Li said, while adding that he hopes China will continue to maintain stable and healthy growth in 2014.

He said the nation's economy has entered a new stage, with the emphasis on quality, efficiency and technological upgrading. But no progress will be made without innovation and a huge talent pool.

To adapt to the situation, Li said the government will promote innovation and introduce foreign talent to serve China's need for economic and social development.

"We would like you to see China as your second home," he told foreign experts at the gathering.

"We welcome foreign experts continuing to participate in and facilitating our reform and opening-up," he said, while promising to make their lives and work more satisfactory in China.

With the Lunar New Year approaching, Li also extended new year greetings to the foreign experts and their families.

John Lawson Thornton, chairman of the board of the Brookings Institution, said he agrees with China's urbanization strategy, which concentrates on the growth of smaller and medium-sized cities, instead of creating more mega-cities.

He said the strategy could work better if economic ties can be formed to link these metropolitan networks.

Integrating rural residents into urban living and creating a low-carbon model for urban expansion are another two challenges for China's urbanization, he said.

Alistair Michie, secretary-general of the UK-based 48 Group Club, a business networking organization, emphasized the role of the service sector in China's economic growth.

He said that although some trades in the service sector, such as logistics and hairdressing, have seen rapid development in China, the high-end service industry has not made much progress in recent years.

Michie suggested launching several "water-testing" programs in the Shanghai Free Trade Zone to allow private investment to enter the sector and to attract more overseas talent from the service industry.

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