Chinese Premier Says Government Will Use Monetary Policy to Boost Economy

Premier: China needs 'strong measures' to support economy

Asked whether Beijing told Chinese companies to spy, Li said, "Let me tell you explicitly that this is not consistent with Chinese law".

Li also said China can use such tools as the reserve requirement ratio of banks and interest rates to support the economy.

Li added he hopes that Sino-U.S. negotiations will "achieve results that yield mutual interests", hours after Chinese media reported senior trade officials of the two countries made "further substantial progress" during their telephone talks on Thursday.

Chinese Premier Li Keqiang on Friday said he is going to visit the European Union (EU) headquarters in April and hold the next round of the China-EU leaders' meeting.

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.

The figures were the latest in a string of indicators pointing to an extended slowdown, with Beijing feeling the effects of a painful trade dispute with the US.

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.

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Her father is the company's founder, Ren Zhengfei, a former engineer in the People's Liberation Army.

China's government voiced support last week for a lawsuit Huawei filed against the United States over legislation preventing American federal agencies from buying its equipment and services.

Speaking to reporters at the close of China's annual parliamentary session, Mr Li listed concrete steps the government would take in the coming months to give teeth to a law that some have said has been rushed out largely to assuage United States concerns.

Trump is demanding China to reduce the Dollars 375 billion trade deficit, provide legal protection for intellectual property rights (IPR), technology transfer and more access to American goods to Chinese markets. He said China is ready to cut cooperate taxes and ease monetary policy further.

"In actual practice, our goal is to generate the same amount of job opportunities as we did previous year, which is over 13 million", Li told a press conference after the conclusion of the annual session of China's national legislature.

In an attempt to boost exports by bolstering economic cooperation with its neighboring countries, Li said China will make efforts to realize a free trade agreement with Japan and South Korea, warning against rising protectionism across the globe.

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