China vows to strengthen trade, import tech


CHINA has vowed to strenghthen economic partnership with other countries by exporting and importing both products and technologies.

China Prime Minister Keqiang Li said yesterday that his government is doing everything in its powers to ensure both foreign and local companies are benefiting from the businesses and that the government protect and safeguards rights of key players in business.

He was addressing the news conference after the end of annual parliamentary session. He said China will always be proud of their currency and that the ‘Yuan’ will always stand to boost the exports.

Last year, the international foreign exchange market experienced some volatility, and major currencies depreciated against the US dollar. He added that the depreciation of the Chinese yuan against the dollar was quite modest.

“China has no intention to devalue its currency to boost exports, this move won’t help our companies to transform,” he said.

Moreover, the Premier said China is not intending to involve itself in any trade war since the practice is not good for the stability and growth of international trade.

“ Our focus is on making reforms and make sure we move with the world market, this will help us to do business with various people across the World,” he said.

He added: “We believe that China will be able to continue supporting the growth and stability of world economy.” Premier Keqiang said China still has the largest foreign exchange reserves in the world, sufficient to pay for imports and repay short-term external debts.

On employment, he said China is looking forward to create job opportunities through entrepreneurship and innovations. He said in the past four years, the government of China has managed to create over 13 million jobs in urban areas.

This year, the government targets to create at least 11 million new jobs in urban areas.

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