Li Keqiang Defends Economic Stimulus At NPC Close

Premier Li Keqiang has defended Beijing’s measures to stimulate the country’s economy, saying they are "forceful" and will encourage domestic consumption.

Speaking at a press conference to mark the end of this year's parliamentary session, Li said China cannot be immune from the global economic slowdown brought about by the Covid-19 pandemic.

He said that even though he did not set a growth target for the country this year, he is still confident the stimulus measures will bring about positive growth.

“Our measures of a fairly large scale are designed to provide vital relief to market entities and revitalise the market, with a particular focus on supporting jobs and people’s livelihoods so our people will have money to spend,” the premier said.

“And that consumption will drive market vitality. This is our measure in keeping with market-oriented reform.”

Meanwhile, Li brushed aside speculation that China and the US would plunge into a new Cold War, as tensions continue to rise between the two countries.

Li stressed the importance of dialogue and cooperation.

“There are many areas where the two countries can and should work with each other,” he said. “There are also extensive exchanges between the two countries in the economic, trade, scientific, technological, and cultural and other fields – there is extensive common interest between China and the US.”

“Both countries stand to gain from cooperation and lose from confrontation.”

Li said getting the relationship between China and the US “right” was in the interests of both countries and the whole world.

“You know that we have all along rejected the Cold War mentality, and decoupling between major economies will do neither side any good, it is also harmful to the world,” he said.