China to support slowing economy

Remigio Civitarese
Marzo 17, 2019

China's authorities intend to develop cooperation with Russian Federation in the sphere of internet trade, space and aircraft industry to double the volume of bilateral trade, increasing it to $200 billion, Premier of the People's Republic of China Li Keqiang told TASS at a news conference on Friday, Trend reports. But President Xi Jinping did not rule out the use of force during a January speech on cross-strait relations.

China will not let the the world's second-largest economy "slip out of a reasonable range", Premier Li Keqiang said Friday, as he pledged support in the face of "new downward pressure".

China's new foreign investment law will lead to the creation of a new complaints filing regime and an information disclosure mechanism to ensure greater transparency, among other things, said Mr Li.

Trump imposed tariff hikes of up to 25 per cent on Dollars 250 billion of Chinese goods.

The figures were the latest in a string of indicators pointing to an extended slowdown, with Beijing feeling the effects of a painful trade war with the United States.

He also projected the new foreign investment law approved by the NPC in the shortest possible time could be a main driver of growth in future.

Chinese Premier Li Keqiang is not mincing words when he tries to convince the world that Beijing will not use Chinese companies to spy on other countries.

Huawei, the biggest global maker of network gear for phone and internet companies, has denied accusations it facilitates Chinese spying.

Earlier this month, Huawei, a leader in the field of next-generation 5G mobile communications, said it has filed a lawsuit against the US government with a federal district court in Texas.

Since August previous year, Trump's administration has banned the use of products and services of ZTE and Huawei, which was founded in 1987 by Ren Zhengfei, a former engineer in the Chinese military.

Premier Li Keqiang, speaking in a nationally televised news conference, said Friday the communist government will cut taxes and take other steps to "boost the vitality of the market".

The United States and China have exchanged tariffs on more than $360 billion in two-way trade, and China's exports and imports plummeted much more than expected in February. He said China is ready to cut cooperate taxes and ease monetary policy further.

Last week, Li laid out a lower growth target of 6 to 6.5 percent this year, from 6.6 percent growth last year, which was already the slowest pace for nearly three decades.

"For some time, China-US trade frictions have been given more prominence, but China-US negotiations have never stopped", Li said.

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