Published: Sun, March 17, 2019
Worldwide | By Isabel Fisher

China Upbeat on Trade Talks, Denies Huawei Spying Allegations

China Upbeat on Trade Talks, Denies Huawei Spying Allegations

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.

A survey suggests issues related to age and child care are major difficulties in China, and this must draw close attention from the government, said Chinese Premier Li Keqiang during Friday's press conference.

Premier Li Keqiang's comment at a news conference was the communist government's highest-level rejection of accusations Chinese companies might spy on foreign customers.

"In actual practice, our goal is to generate the same amount of job opportunities as we did past year, which is over 13 million", Li told a press conference after the conclusion of the annual session of China's national legislature. Gross domestic product grew 6.6 percent in 2018 - the least in 28 years.

This is an important thing China has to do in the next step to ensure that the law is implemented smoothly, Li said.

The central bank has cut banks' reserve requirement ratios (RRR) five times in the past year, with a two-stage RRR cut in January releasing a total of 1.5 trillion yuan ($A315.82 billion) into the financial system.

Policymakers huddled in Beijing have talked up plans to support the economy, announcing billions of dollars in tax cuts, fee reductions, and financing support for small businesses.

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The US and China, the world's two largest economies, are locked in a trade war since President Donald Trump imposed heavy tariffs on imported steel and aluminium items from China in March a year ago.

"We hope that the consultations will be fruitful and will achieve mutual benefit and win-win".

Innovative measures are needed to address the shortages of such services to meet public demand, Li said, adding that developing community-based nursing services for the elderly and infants can help as nursing facilities in communities can be more accessible to people.

A summit to seal a trade deal between U.S. President Donald Trump and Chinese President Xi Jinping will not happen at the end of March as previously discussed, Treasury Secretary Steven Mnuchin said on Thursday.

Li has also said the government would develop innovative mechanisms to better match people's supply and market demand.

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.

The law, created to ease concerns among foreign companies about the difficulties they face in China, will ban forced technology transfer and illegal government "interference" in foreign business practices.


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