China 

Chinese Premier Li Keqiang says foreign investment law shows Beijing is serious about opening economy further

The passage of the new foreign investment law shows China is serious about addressing foreign investors’ concerns, as it continues to open up its domestic market, Chinese Premier Li Keqiang said on Friday.But while foreign observers agreed the law is a step in the right direction, concerns remain that it does not go far enough. There is also widespread doubt among the foreign business community that it will be effectively implemented.In total, 2,929 lawmakers at the National People’s Congress … Source link

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China 

China will not ‘discriminate’ between state and private companies, vows Premier Li Keqiang

China will not “discriminate” between state owned and private companies, with Premier Li Keqiang vowing to roll out a series of measures to alleviate some of the burdens felt by the private sector including lowering the cost of financing.“We will ensure all companies benefit from our administrative streamlining measures. There should be no discrimination,” Li said at the conclusion of the National People’s Congress (NPC) in Beijing on Friday.“Through years of efforts, we have cut the time… Source link

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More prudent regulations to come for China’s sharing economy, says Premier Li Keqiang

Chinese Premier Li Keqiang says more prudent regulations will need to be adopted to help grow the country’s sharing economy, which has sparked public concern after years of being a magnet for major venture capital investments.“Like any new business, [the sharing economy] has its ups and downs,” said Li in a press conference on Friday to mark the conclusion of the annual gathering of China’s parliament. “But in general, it creates jobs, brings convenience to people and drives the development of… Source link

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China 

Six key takeaways from China Premier Li Keqiang’s annual policy blueprint

Chinese Premier Li Keqiang delivered his 2019 government work report on Tuesday morning to the National People’s Congress in Beijing, but what does it mean?1. Uncertain outlookThe government is foreseeing “graver and more complex” risks and challenges of a “both predictable and unpredictable” nature, and China must be “prepared to fight tough battles” this year.As such, the government has set the economic growth target in a range of 6.0 to 6.5 per cent, which offers Beijing the necessary leeway… Source link

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China 

China’s Premier Li Keqiang warns central bank of ‘new potential risks’ posed by record loans in January

Premier Li Keqiang has warned of the “new potential risks” that China’s record level of new loans in January could bring to the financial system.The People’s Bank of China (PBOC), China’s central bank, confirmed that new yuan loans surged to 3.23 trillion yuan (US$476.97 billion) last month, almost triple the 1.08 trillion yuan (US$160.8 billion) of loans in December and beating the 3.06 trillion yuan from the same period last year.Total social financing, the more broadly defined measure of… Source link

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China 

Chinese Premier Li Keqiang says he is confident of keeping growth in ‘appropriate range’ in 2019

China is confident it can maintain its economic growth within “an appropriate range” this year despite the prevailing headwinds, state media quoted Premier Li Keqiang as saying. Speaking in Beijing on Friday at a gathering of foreign academics – including American Paul Romer, a winner of the Nobel prize for economics – Li highlighted the country’s vast resources and determination to keep the government’s expansion plans on track, Xinhua reported. “China’s economy has enough resilience, potential and room for growth, especially with a huge domestic market and rich human resources…

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China 

China Premier Li Keqiang invites harsh words on economy from private sector top brass

Chinese premier Li Keqiang has asked economists and entrepreneurs to critique his government work report, which is expected to lay out the government’s economic policies for 2019. Li invited some of China’s most celebrated figures in business and economics to give him feedback that “may hurt the ear or stab the heart”, at a time when China’s economy continues to face serious headwinds. Those present included Alibaba chairman Jack Ma Yun, China First Heavy Industries’s chairman Liu Mingzhong, Tao Dong, senior adviser and economist with Credit Suisse Private Banking Asia-Pacific,…

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China 

Chinese Premier rejects economic stimulus option as latest data shows more weakness

The Chinese government has no plans to resort to a “massive stimulus” similar to that of 2008 as a way to manage its slowing economy amid the trade war with the United States, Premier Li Keqiang said on Tuesday. Instead, Beijing will focus its policies on “energising the market, in particular market entities” and creating “fair and equal regulations” to maintain momentum in the world’s second biggest economy, Li said in a speech before attending the annual summit of the Association for Southeast Asian Nations in Singapore. “Despite the downward…

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China 

China’s Premier Li Keqiang says loans to small firms should not be ‘wilfully withdrawn’

China’s premier said loans to small firms should not be “wilfully withdrawn”, and the country should help them tackle their liquidity difficulties, Xinhua reported late on Friday. “Government departments are encouraged to take a multi-pronged approach,” Li Keqiang was quoted as saying during a cabinet meeting on Friday. “No loans extended should be wilfully withdrawn.” Li’s comments were the latest from Beijing about efforts to prop up small and medium enterprises (SMEs), which are flailing in the face of a wider clampdown on riskier credit, a slowdown in economic growth…

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