Chinese Premier Li Keqiang re-elected for second five-year term
Chinese Premier Li Keqiang re-elected for second five-year term
20 Марта, 2018, 13:25
His position puts Li in charge of the world's second-largest economy. He did not give more specifics.
The Chinese economy is so integrated into the global economy that closing the doors would only block China's own way, Li said at his customary press conference at the conclusion of the annual session of China's national legislature.
"What we hope is for us to act rationally rather than being led by emotions".
In another sign of Mr Li's diminishing stature in government affairs, Mr Xi's former anti-graft buster and trade negotiator, the economist Wang Qishan, was appointed vice-president on Saturday. "We don't want to see a trade war", Li said. "What we want is balanced trade, otherwise bilateral trade would not be sustainable", he said. No compulsory technology transfers will be imposed on foreign investment in the general manufacturing sector and intellectual property rights will be protected, he said.
Trump says Beijing has forced USA companies to transfer their intellectual property to China as a cost of doing business there, though China has insisted that technology transfers are not a condition of gaining market access. China says it is committed to enforcing United Nations sanctions but that all parties need to do more to reduce tensions and restart talks. They have promised to open more industries to private and foreign competition, but business groups complain they are moving too slowly.
Asked whether China will use its over Dollars 1 trillion holdings of the USA government debt as leverage in a dispute, Li said China's investments are based on market principles and "China will remain a responsible long-term investor". The government aims to expand its economy by around 6.5 per cent this year, having easily surpassed the same target in 2017.
Li is expected to take part in a 3-way summit of Japan, China and South Korea.
The Chinese central bank was being given responsibility for drafting important laws covering the banking and insurance sector, with regulation over the $42-trillion sector becoming more streamlined and tighter.
Economic growth and social stability have allowed Xi to amend the constitution and carry out other moves that once seemed highly contentious, said Kerry Brown, professor of Chinese Studies and director of the Lau China Institute at King's College, London.
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