BEIJING -- Chinese Premier Li Keqiang left Beijing for Davos, Switzerland, Tuesday to attend the annual meeting of the World Economic Forum (WEF), the first overseas trip for Chinese leaders in 2015.

Li is scheduled to deliver an important speech at the meeting on China's economic situation and its policies concerning comprehensive reform and opening up.

Statistics released Tuesday showed that China's gross domestic product (GDP) grew 7.4 percent in 2014, which, although in line with market expectations, was its weakest expansion in 24 years.

China has entered a "new normal", with growth at a medium-to-high level and structural reform measures implemented to support sustainable development. Innovation has been singled out as an area that will play a more significant role in driving growth.

A new round of comprehensive reform measures began in 2014, which restructured the economy, and streamlined authoritative powers to stimulate the market. The year 2015 will see the continuation of this reform trend.

As world's second largest economy, which, as estimated by the International Monetary Fund (IMF), contributed 27.8 percent to the global newly-added GDP in 2014 -- the most in the world, China's economic performance is watched closely.