Highlights of Premier Li's news conference
Premier Li Keqiang answers questions of reporters at a news conference for the first session of the 13th National People's Congress in Beijing on March 20, 2018. [Photo/Xinhua]
Premier Li Keqiang meets reporters from home and abroad at a news conference on March 20 at the end of the annual meeting of the National People's Congress. Here are highlights of the event.
China will continue opening up
China will open even wider to imports and investment, fully opening the manufacturing sector to foreign competitors and cutting tariffs on more imports, Chinese Premier Li Keqiang said Tuesday.
Li said at a news conference right after the closing meeting of the annual session of the 13th National People's Congress that the Chinese economy is so integrated into the global economy and closing the doors would only block China's own way.
"If there is something that will be different from the past, it will be that China will open even wider," Li said.
China will lift the foreign-owned equity limit in some areas and the country will fully open up the manufacturing sector.
"There will be no mandatory requirement for technology transfer, and intellectual property rights will be better protected,” Li stressed.
The premier also said the country plans to eliminate import tariffs on drugs and reduce tariffs on other imported goods.
Optimizing business environment
China will continue to streamline administrations and deligate power to improve business environment and further stimulate market vitality, Premier Li Keqiang said Tuesday.
"We will cut the time it takes for opening a business in China by another half and we will reduce the time required for reviewing a project application by another half," Li said at a press conference after the conclusion of the annual legislative session.
Measures will also be taken to have an e-platform in a national level for accessing government services online and ensure any requirement for certification that has no basis in laws and regulations will be abolished, he said.
Li said thanks to efforts in recent years, China has significantly cut the time for opening a business, but it still takes 22 days on average to do so in the country. By comparison, it takes less than a day in a developed country.
"We must further cut the red tape and simplify administrative procedures," he said.
China welcomes cooling tensions on Korean Peninsula
China welcomes the recent de-escalation of tensions on the Korean peninsula, and China supports all efforts that will help resolve the nuclear issue through dialogue and consultation, Premier Li Keqiang said.
Li made the remarks when asked about Beijing’s expectations for the peninsula situation at a press conference held at the end of the annual meeting of the National People's Congress in Beijing on Tuesday.
China will continue to do its best to push for the peninsula's denuclearization and secure peace and stability there, Li said.
It is hoped all parties involved will show sincerity, take concrete actions, and get the nuclear issue back on track for negotiations, so more new progress will be made towards the peninsula's denuclearization, peace and stability, Li said.
This is in the interest of all parties concerned and of the whole world, he added.
The peninsula is China's close neighbor and happenings there directly concern China's interests, so it should be expected China has been paying attention to the situation, Li said.
China committed to property rights
China will pay great attention to protecting property rights of all business entities, whether State-owned enterprises or private businesses, Premier Li Keqiang said Tuesday.
"Businesses of all types of ownership, be it State-owned or private enterprises, have made important contributions to China's tremendous economic growth in the past decades," Li said at a news conference after the closing meeting of the annual session of the 13th National People's Congress.
Private business has contributed to nearly half of government tax, and 90 percent of new urban employment, Li noted.
Li said the country will make all property owners, including investors and companies with all types of ownership, feel confident by reassuring their legitimate property rights.
"Property rights are the cornerstone of the socialist market economy. Protecting property rights is protecting productive forces," Li said.
He added contracts must be honored and no legitimate contract should be treated as a piece of scrap paper.
China will not seek expansion
China will not seek expansion, as it is a developing country with no expansionary intentions - even if it grows stronger in the future, Chinese Premier Li Keqiang said Tuesday.
The nation will not follow older logic that a strong country is bound to seek hegemony, he added.
China has achieved peaceful development, and a peaceful international environment is still what China needs to achieve full modernization.
In recent years, China's economic growth has contributed around 30 percent to global growth, which is important for global economic recovery and good for upholding global peace, because with more trade there's going to be more negotiations that help to keep conflict away, Li explained.
"One must not do to others what one himself does not like," he said.
China pursues peaceful development, though the nation is most resolute in upholding its own territorial integrity and will not abandon a single inch of its own land, Li said. And in the same way, China will not occupy an inch of the land of others, he added.
"China will continue to focus its energy on managing China's own affairs well."
China wants to develop relations with all other countries and regions on the basis of mutual respect and equal, mutual benefit. "We will together to build a community of shared future together."[page]
Premier Li Keqiang answers questions of reporters at a news conference for the first session of the 13th National People's Congress in Beijing on March 20, 2018. [Photo/Xinhua]
11 million new jobs in 2018
Premier Li Keqiang pledged to generate a minimum of 11 million new jobs this year and stressed the importance of ensuring employment for China's 280 million migrant workers who are working in cities.
The premier said at a news conference Tuesday employment is of "paramount importance" for each and every family and urged governments at all levels to put employment high on their agenda.
"Our minimum target is 11 million new urban jobs, and we will work for more than 13 million in actual practice. We have been able to do that in the past several years and there is no reason for us to fail to hit that mark this year," he said.
According to the premier, China has generated more than 60 million new urban jobs in the last five years. In this year's government work report, China incorporated the surveyed urban unemployed rate as a target for the first time, so it will better reflect the employment situation in both urban and rural areas, he said.
"This is the government putting pressure on itself," Li said.
Li noted China has some 280 million rural migrant workers in cities, who have contributed greatly to China's urbanization process by building skyscrapers and roads.
China will see some three to four million migrant workers coming to work in cities this year, he said.
"It is an important part of government work to provide job opportunities for these people," Li added.
According to the premier, this year will see a record high 8.2 million college graduates and another five million graduates from secondary vocational schools. There will also be some one million demobilized military personnel and workers affected in the cutting of overcapacity.
"We must work hard to ensure there will be good jobs for these people," he said, adding the central government will try to eliminate "zero employment" families and explore new channels for creating jobs.
China, US should be rational on trade
Premier Li Keqiang spoke on China-US trade issues on Tuesday and said it is hoped both sides act rationally instead of being led by emotions, and avoid waging a trade war.
Li made the remarks at a news conference held after the conclusion of the first session of the 13th National People's Congress in Beijing on Tuesday.
He noted that much talk was heard recently about a possible trade war between China and the United States.
China believes that a trade war does no good to both sides, and no one will emerge as a winner from a trade war, Li said.
If one does have to use the term "war", it would be going against the rules of doing trade, because trade is realized through negotiation, consultation and dialogue, Li said.
Last year, China-US trade exceeded $580 billion, and Li said the two countries have been doing trade to this end on the basis of business rules and market principles; otherwise, it would have not been possible to have such a big volume of two-way trade.
Speaking on the US trade deficit against China, Li said a large trade deficit – not just with the US - is not something that we want to see, and what we want to see is an overall trade balance; otherwise, this kind of trade would not be sustainable.
Li referred to what he had listed earlier at the news conference about China's further steps for opening-up, such as those regarding services, manufacturing and products, and he said this will bring opportunities for the US businesses too.
Washington, at the same time, is urged to ease its restrictions concerning exporting high-tech goods or high value-added commodities to China, Li said.
China will further fully protect intellectual property rights, and it is hoped the US will not miss this important tool for balancing China-US trade; otherwise, it will miss a good opportunity for making more money, Li added.
Responding to the question on China's remarkable foreign exchange reserves, Li said China makes diversified investments of its foreign exchange reserves on the basis of market principles, and China will remain a responsible long-term investor.
China and the US have a relationship that is between the world's largest developing and developed countries. Their economies are highly complementary, and a stable China-US relationship is in the interest of both countries and the whole world, Li said.
China confident it can forestall risk
China is capable of preventing systemic financial risks given the country's sound and stable economic growth, Premier Li Keqiang said Tuesday.
The capital adequacy ratio and provision coverage ratio of the Chinese banking sector are higher than required by international standards, Li said. Banks must also put aside reserves worth about 15 percent of total deposits, meaning the banking sector has more than 20 trillion yuan ($3.16 trillion) as reserves, according to Li.
The premier made the remarks at a news conference after the closing meeting of the annual session of the 13th National People's Congress.
Li said China has achieved double-digit growth of fiscal revenue in the first two months of this year and the government is confident it will achieve its main economic development targets.
The government will continue to lower its fiscal deficit ratio, but this does not mean any change in the country's proactive fiscal policy stance, Li said.
Meanwhile, China will continue to crack down on illegal fundraising to protect the interests of investors. The merger of the country's banking and insurance regulators is aimed at preventing activities that evade regulation, he added.
Strong China-Russia relationship in everyone's interest
As neighbors, a stable and amicable relationship between China and Russia is in the interest of both countries as well as the world, Premier Li Keqiang said.
Li made the remarks at a press conference after the conclusion of the first session of the 13th National People’s Congress on Tuesday.
China-Russia trade relations have experienced a "saddle-shaped" change in previous years, due to phenomena like the change in the global trade situation and a drop in global commodity prices, Li said.
Trade relations between China and Russia reversed last year, he said, adding bilateral trade increased more than 20 percent, still with great potential.
The bilateral trade scale between China and Russia stands at about $80 billion, and the two countries could continue to innovate, tapping into potential and bumping it up to $100 billion, he said.
China opposes attempts for 'Taiwan independence'
China will not tolerate the attempt of any external force to use Taiwan as a card to cause difficulties for cross-Straits relations, Chinese Premier Li Keqiang warned on Tuesday.
Li made the remarks at a news conference after the closing meeting of the first session of the 13th National People's Congress.
Li noted that the mainland and Taiwan belong to "one and the same China" and must not tolerate any attempt for "Taiwan independence".
Beijing is ready to have dialogues and consultation with all political parties and groups in Taiwan who adhere to the one-China principle to discuss all issues that concern people on both sides and work for peaceful development of cross-Straits relations to eventually achieve China's peaceful reunification, Li said.
"We believe that represents the fundamental interests of our nation," he said.
Li said the peaceful development of cross-Straits relations has served the well-being of people on both sides of the Taiwan Straits, and China vows to continue to pursue the peaceful development of cross-Straits relations.
"We have always been working to ensure that our compatriots from Taiwan will be able to enjoy the same treatment as mainlanders do when they come to work, live or study on the mainland, because we are members of the same family," Li said.
Beijing has recently issued 31 measures to promote cross-Straits economic and cultural exchanges and cooperation. Taiwan people will gradually be granted equal status with residents of the Chinese mainland with regard to entrepreneurship, employment, education and living.[page]
Chinese Premier Li Keqiang, vice premiers Han Zheng, Sun Chunlan, Hu Chunhua and Liu He attend a press conference after the conclusion of the first session of the 13th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 20, 2018. [Photo/Xinhua]
Millions more to get health coverage in 2018
China will make more efforts to relieve financial burdens on patients — especially those with serious diseases — with more than 20 million people expected to be covered by medical insurance for serious diseases by the end of the year, Premier Li Keqiang said Tuesday.
The Chinese government has been making great efforts in the past five years to ensure basic health care services for the people, and has established the world's biggest basic medical insurance network, he told reporters at a news conference in Beijing.
Despite the universal coverage of basic medical insurance programs, some people with financial difficulties still find it hard to afford medical bills in case of serious disease, while others still find it difficult to have access to quality health care services, he said.
"China still has more than 30 million people living in poverty, and many of them live in poverty or fell back to poverty because of serious diseases," Premier Li said. "We will put this high on the agenda, making treatment of serious diseases more affordable for the people, while continuing to improve basic medical insurance."
As a solution, authorities in China in recent years have been trying to integrate the government's basic medical insurance programs with various commercial insurance programs to improve effects of the fund on health care relief, and more than 17 million people had been covered by medical insurance programs for serious diseases by the end of last year.
This year the government will intensify efforts in this regard and half of the increased capital for the national basic medical insurance fund will be integrated with commercial insurance, he said, with more serious diseases added to the list covered by insurance.
Meanwhile, more measures will be taken to encourage a flow of quality medical resources to grassroots hospitals and clinics, such as integrating healthcare with internet technology, so patients with serious diseases at the grassroots can also get good treatment, he said.
"We must use serious disease insurance program and other policy steps to protect families from being overwhelmed by such severe difficulties," Li said.
Premier considers visiting Japan this year
Premier Li Keqiang said he is considering attending the China-Japan-Republic of Korea leaders' meeting and paying his first official visit to Japan.
Li made the remarks at a press conference held at the end of the annual meeting of the National People's Congress in Beijing on Tuesday.
Signs of improvement have been witnessed in China-Japan relations lately, and Japanese Prime Minister Shinzo Abe has sent invitations on several occasions for a visit to Japan, Li said.
Li said he would be ready to actively consider, in the context of the sustained upward momentum in China-Japan relations, attending the China-Japan-ROK leaders’ meeting and paying an official visit to Japan within the first half of this year.
Improvement in China-Japan relations requires not just the right atmosphere but commitment and vision, and exchanging visits at the leadership level will help get the relationship back on its track of steady development, Li said.
More importantly, Li added, we must consolidate the foundation of China-Japan relations rather than just making a one-time deal, and there needs to be sustained, steady development of this relationship.
This year marks the 40th anniversary of the signing of the China-Japan Treaty of Peace and Friendship.
The premier said it is important for both countries to honor the spirit and the agreements reached in the four key China-Japan political documents.
The relationship is warming, but we also need to keep watch for any possible return of chilly relations, Li said.
We need to work together for the sustained, steady development of this relationship, he added, and that is what China hopes to see from Japan.
Internet Plus plays important role in growth
The "Internet Plus" model has created new growth drivers in China's development to avoid an economic "hard landing" for the country, Premier Li Keqiang said.
In recent years, the model has motivated China to transform its functions, energize the market, promote consumption as the main force of development and alter the economic structure to deepen reform.
Now, China's economy is stable and improving, and these new growth drivers play important roles.
In addition, "Internet Plus" is also the biggest sharing economy platform, which provides vast opportunities for mass entrepreneurship and innovation. It is changing people's lives, and gives more avenues to tech elite and entrepreneurs to present their abilities, as well as grassroots people to show their values.
As a new model, the "Internet Plus" also has some problems. We should seek advantages and avoiding disadvantages to the model, adopting a tolerant and prudent attitude to supervise "Internet Plus", Li said.
We cannot negate the "Internet Plus" model when some problems appear, and not allow people to use the model to cheat and ruin its reputation, the premier added.
Providing old-age pensions in full, on time
China has the capacity to ensure old-age pensions are paid in full and on time, even though some provinces faced a shortfall of pension funds last year, Premier Li Keqiang said Tuesday.
"Pension payout was something high on my mind when I visited the old industrial bases, or in my discussions with delegates during the two sessions this year," Li said.
He said there are indeed problems in certain Chinese provinces, mainly due to the decline in fiscal revenue at times of economic downturn.
But they have taken multiple measures to address the issue, including better use of existing funds, dealing with state-owned assets, or making relevant fiscal arrangements, he said, adding the central government has also provided funding support.
The balance of China's pension funds now stands at 4.1 trillion yuan, and there is also 1.8 trillion yuan of social security funds as a strategic reserve, enabling the pension benefits to be paid on time and in full, according to Li.
Meanwhile, the country will continue reform to ensure pension payments, Li said. "This year we plan to establish a central system for pension insurance funds to be used inter-provincially."
Each province will contribute 3 percent from their funds to be used across provinces, so as to fill shortfalls some provinces may suffer, he added.
In addition, the government will use some stated-owned asset proceeds to replenish the social security fund to make it run safely and more profitably, which will deliver adequate retirement support to senior people in China, Li said.
"It will be really disappointing if decades of hard work cannot earn one a decent retirement," the Premier said. "We should never see senior people as a liability. Retirement can also offer tremendous business opportunities and turn out to be an important industry. But we will never shirk the government's responsibility for adequate old age support."
Editor: John Li