Live updates: Li Keqiang's first news conference
Li Keqiang pledged to reduce the number of bureaucrats and practise frugality in government affairs as he gave his first press conference as Chinese premier
10.30am Li Keqiang gives a welcoming address at his first press conference as premier.
10.40am Li says State Council will reduce the number of officials and drive down costs.
He plans to cut the existing 1,700 administrative approval items by at least one-third.
Funds flowing into central government coffers increased by just 1.6 per cent over January and February.
Spending on social programmes will only increase, forcing the government to cut back in other areas.
No new central government offices, halls or guest houses will be built, staff numbers will tumble, and spending on government hospitality, overseas trips and new vehicles will be curtailed. -Associated Press
"I am confident that the previous administration led by Wen Jiabao has created the necessary preconditions for continued growth and development."
China-US relations
11.00am China attaches great importance to its relationship with the United States.
Bilateral trade volume has increased to more than US$500 billion last year, from only US$1 billion three decades ago.
Both China and the US want to uphold regional peace and stability.