DALIAN -- Chinese Premier Li Keqiang said Tuesday that China will build market-oriented, internationalized business environment based on rule of law to further energize market entities.

Li made the remarks when addressing the opening ceremony of the Annual Meeting of the New Champions 2019, also known as the Summer Davos Forum, in the city of Dalian.

Established by the World Economic Forum in 2007, the summer forum is held each year in China, alternating between the port cities of Dalian and Tianjin.