China's massive stimulus package has not only maintained its economic growth and social stability, but also secured the country's sound momentum of economic development, Chinese Premier Wen Jiabao said Monday.

Wen made the remarks while delivering a speech at the opening session of the fourth Summer Davos held in north China's port city Tianjin.

The severe external shock did not cause a big fluctuation in China's modernaization process, which is "of major and far-reaching significance," Wen said.

The three-day meeting, also known as the Annual Meeting of New Champions 2010, under the World Economic Forum, attracted some 1,500 high-profile officials, scholars and business leaders from nearly 90 countries and regions.