Gross domestic product grew 6.6 percent in 2018 - the least in 28 years.
"This law will regulate government behaviour, requiring the government to perform its functions in accordance with the law", he said.
Li also sought to soothe concerns that the tax cuts soon rolled out by the government will weigh on local finances, promising the central government will offer support to provinces in central and western China via payment transfers.
China now has 250 million people above 60 years and 170 million above 65 years, Li said during his annual press conference here.
"Of course, we are faced with many uncertain factors this year".
China will introduce a series of regulations and documents in accordance with the foreign investment law to protect the legitimate rights and interests of foreign investors, he said skirting question that whether it was passed in a hurry to meet the United States demands to a end trade war.
"We face many uncertainties this year, so we have to take more preparations, and we have policy space", Li said.
But he stopped short of providing a timetable for any reserve requirement ratio or interest rate cuts.
"China's economy will remain an important anchor of stability for the global economy", Li said.
"Not allowing the economy to slip out of a reasonable range, that is to say we will not allow waves of layoffs", said Li, adding the government will provide support to firms creating the most jobs.
With speculation that Chinese President Xi Jinping and U.S. President Donald Trump may hold a summit in the near future to end a trade war, Li expressed readiness to make the nation's market more open and transparent to foreigners.
Innovative measures are needed to address the shortages of such services to meet public demand, Li said, adding that developing community-based nursing services for the elderly and infants can help as nursing facilities in communities can be more accessible to people. "This is not how China behaves", Li told reporters on Friday morning in Beijing after being asked whether China would ask Chinese companies to spy on other countries.
His comments came after increased global scrutiny of Chinese telecommunications giant Huawei Technologies Co Ltd, which has been caught in the cross-fire as trade tensions ratcheted up. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only.