BEIJING -- Deepening reform in China will foster new impetus for economic growth and provide room and opportunity for the world economy, Vice Premier Zhang Gaoli said Sunday.

Zhang made the remarks in a keynote speech to the China Development Forum 2014, a platform for the business and academic communities to interact with decision makers and economic planners.

The economy has the foundation for steady growth and the conditions for sustaining medium to high growth for a relatively long time, he said.

"Deepening comprehensive reforms will significantly stimulate the people's enthusiasm to innovate and start businesses, enhance the dynamism of market entities and foster new endogenous momentum for growth," Zhang said.

China Development Forum 2014 opens	China's GDP growth target for 2014 set at 7.5 percent