China Premier Li Keqiang Says Economy Can Avoid Hard Landing

China's structural reforms have reduced the risk of a hard landing in its economy, Chinese Premier Li Keqiang said at the World Economic Forum event in Tianjin.

The economy will be able to avoid a steep drop in growth, Li said, as it switches from an industrial model to a model powered by science and innovation.

"We cannot advance without changing the growth model, the development should promote employment, improve incomes, boost energy conservation and environmental protection," Li told the conference.

China's economy has experienced a tricky year in 2014, with growth hitting an 18-month low of 7.4% in the first quarter, before rising slightly to 7.5% in the second three months of the year.