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Chinese Premier Li Keqiang said on Wednesday China would promote economic development by opening up its economy more widely as experience showed closed door policies only brought stagnation.

"We will promote development through expanding, opening up," Li said in a speech to the annual United Nations General Assembly.

"China's experience in the past decades has proven that a closed-door policy only leads to stagnation and backwardness ... China will open its door even wider to the outside world."

Image: Chinese Premier Li Keqiang speaks during a High Level Leaders meeting on Refugees on the sidelines of the United Nations General Assembly at United Nations headquarters in New York, U.S. September 20, 2016. REUTERS/Brendan McDermid