China to increase liberalisation, trade facilitation

China will intensify its liberalisation policy and facilitation of international trade and investments, Li Keqiang, the Chinese Prime Minister, has said. Keqiang, who was speaking at the fifth session of the National People’s Congress of the People’s Republic of China in Beijing on March 5, added that economic globalisation is a fundamental interest of all countries.
China's Premier Li Keqiang (left) and another official at the function. / Richard Ruhimbana
China's Premier Li Keqiang (left) and another official at the function. / Richard Ruhimbana

China will intensify its liberalisation policy and facilitation of international trade and investments, Li Keqiang, the Chinese Prime Minister, has said.

Keqiang, who was speaking at the fifth session of the National People’s Congress of the People’s Republic of China in Beijing on March 5, added that economic globalisation is a fundamental interest of all countries.

“This is why China will not shift its commitment to promoting global economic co-operation,” the Premier of Council, as he is popularly known in China, said. He further disclosed that China will uphold the multilateral trading regime as the main channel of trade and negotiations.

“China will continue to negotiate investment and trade agreements with other countries and regions,” he said, maintaining that Beijing will firmly defend its rights and interests.

“China’s Gross Domestic Product (GDP) hit 74.4 trillion yuan in value terms, representing 6.7 per cent expansion, which has seen China outpace many other economies globally.”

Figures indicated that China contributed more than 30 per cent of global growth. The country’s industrial enterprises’ profits rose by 8.5 per cent in 2016, which reversed the previous year’s negative growth of 2.3 per cent. In addition, its energy consumption per unit of GDP fell by 5 per cent.

The Chinese Premier said all indicators show that the economic situation in China has improved in terms of quality and returns.

 

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