Li confident on economic outlook for 2019

Source: Xinhua | 2019-01-28

Premier Li Keqiang says the country has full confidence and capability to keep the economic growth rate within an appropriate range in 2019 despite challenges.

The remarks came as Li had a discussion with some foreign experts working in China at the Great Hall of the People in downtown Beijing ahead of the Chinese Lunar New Year, which falls on February 5 this year.

“China’s economy has enough resilience, potential and ample room for growth, especially with a huge domestic market and rich human resources of nearly 1.4 billion people,” he said.

“Therefore, we are fully confident and capable of keeping economic growth rate within an appropriate range in spite of multiple risks and challenges in 2019.”

China’s economy, the world’s second largest, grew 6.6 percent year on year to reach 90.0309 trillion yuan (US$13.28 trillion) in 2018, above the official target of around 6.5 percent, according to data issued by the National Bureau of Statistics.

“The growth rate of 6.6 percent is hard-won, as it is on the basis of China’s very high economic output, fairly sufficient employment and continuous improvement of the environment,” said Li.

China will forge ahead with reforms unswervingly and inspire the vitality and creativity of some 100 million market entities, he added.

He said China will further streamline administration, delegate more power, strengthen regulation, provide better services, reduce taxes and fees, further ease market access and provide a business environment of fair competition.

China is committed to opening wider to the outside world and learning advanced technology and experience from foreign countries, he said. As a developing country, China will stick to inclusive development, said Li.

“China welcomes the entry of all competitive commodities and technology in the world, and we will strictly protect intellectual property rights and speed up the market transformation of innovation results,” the premier said.

Li had an in-depth exchange of views with renowned experts from the United States, Germany, Britain, Cuba and Sweden about their advice and suggestions on issues including economic growth, scientific innovation, intelligent manufacturing and environment protection.

The experts were Paul Romer, Nobel laureate in economics and professor at New York University; Peter Sachsenmeier, member of the National Academy of Sciences and Engineering of Germany and professor at Oxford University; Konstantin Novoselov, Nobel laureate in physics and professor at the University of Manchester; Juan Jesus Guanche Perez, a Cuban academic and vice president of Hebei Foreign Studies University; and Christopher Flensborg, a Swedish expert in finance.