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Premier Li Qiang

All articles tagged with #premier li qiang

economics1 year ago

"China Aims for 5% Economic Growth, Promises Support for Consumers and Developers"

China aims for 5% economic growth this year, with plans to boost spending on technology, military, and the economy, but no major stimulus package. Premier Li Qiang acknowledged the challenges, including a real estate slump and overcapacity in some industries. The government plans to issue long-term bonds to boost growth and address housing market issues. The draft budget includes a 7.2% rise in defense spending. China's economy grew at a 5.2% pace last year, but replicating this growth will be difficult. The government emphasizes the need to raise consumer spending and provide support for local governments facing economic difficulty.

via The Associated Press|
#china#economic-growth#economics
business1 year ago

"China Aims for Around 5% Economic Growth Target in 2024"

China's Premier Li Qiang has set an ambitious economic growth target of around 5 percent for this year, signaling readiness to borrow more for spending programs. The country's economy is facing challenges such as a steep slide in the housing market, consumer malaise, and investor wariness. Achieving the growth target without the benefit of last year's rebound could be difficult, and some economists question the accuracy of China's growth claims. The government is attempting to restore confidence in China's long-term prospects and harness new drivers of growth, but challenges around the housing sector may drag down these efforts, potentially requiring more debt-fueled state spending to achieve the growth target.

via The New York Times|
#business#china#consumer-confidence
politics-and-economy1 year ago

China Cancels Premier's Annual News Conference in Surprise Decision

China surprised the world by scrapping the tradition of the premier's news conference at the National People’s Congress, raising concerns about the country's economic uncertainty and global tensions. The move comes amid worries about China's economic slowdown, real estate crisis, unemployment, and declining exports. As the legislative session opens, all eyes are on China's plans for fiscal stimulus and efforts to restore confidence in the economy, which some economists believe could take three to five years.

via NBC News|
#china#economy#global-concerns
politics1 year ago

China's Premier Breaks Tradition, Eliminates Annual News Conference

China's government has announced the elimination of the annual news conference by Premier Li Qiang, a rare opportunity for journalists to question top Chinese leaders, signaling a diminishing of the premier's power and government bureaucracy as the Communist Party centralizes control. The move comes ahead of the opening of the National People's Congress, where the government is expected to reveal its economic growth target for 2024. The spokesperson reassured that China remains open to foreign business and investment, rejecting concerns about recent changes to national security laws and expressing confidence in overcoming technology access restrictions. Additionally, the spokesperson declined to comment on the U.S. presidential election's impact on China's relations with the United States and criticized American lawmakers' actions regarding Taiwan. Military spending growth is expected to be revealed at the congress, with analysts anticipating a 6-7% increase reflecting China's concern about its international environment and prioritizing military modernization alongside economic goals.

via The Associated Press|
#china#government-control#national-peoples-congress
politics1 year ago

China Breaks Tradition: Premier's Annual Press Conference Scrapped

China has announced the elimination of the annual news conference by Premier Li Qiang, a rare opportunity for top Chinese leaders to take questions from the media, with the spokesperson for the National People's Congress stating that the premier's press conference will not be held in the next few years without further explanation. The move comes ahead of the opening of the weeklong meeting of the largely ceremonial congress, which is being closely watched for indications of steps the government will take to boost the struggling economy.

via Yahoo! Voices|
#china#economy#national-peoples-congress
economics2 years ago

China's Economic Outlook: Navigating Challenges and Shifting Focus

Major international investment banks are predicting a slower economic growth for China in 2024, with an average forecast of 4.6% increase in real GDP, down from 5.2% in 2023. Factors contributing to this include a housing market correction and subdued external demand. Despite this, China's economy is still expected to outpace that of developed economies, with UBS analysts pointing to growth potential in areas such as urbanization, manufacturing, services, and renewable energy.

via CNBC|
#china#economic-growth#economics
business2 years ago

"China's Premier Li Qiang Reveals 5.2% Economic Growth and Emphasizes Innovation at World Economic Forum"

Chinese Premier Li Qiang announced at the World Economic Forum in Davos that China's economy grew "around 5.2 percent" last year, surpassing its target of about 5 percent. He emphasized that the growth was achieved without resorting to risky or short-term measures, and China will officially release the economic data the following day. Despite concerns about the credibility of China's economic numbers, experts view this early estimate as less concerning than the delayed release of economic growth information in 2022. China has been cautious about increasing economic stimulus and has taken steps to address challenges such as a downturn in real estate and loss of consumer confidence.

via The New York Times|
#business#china#economic-growth
infrastructure2 years ago

China Premier Witnesses High-Speed Rail Trial in Indonesia

China's Premier Li Qiang will attend the trial run of a $7.3 billion high-speed rail project in Indonesia, which is part of China's Belt and Road Initiative. The project, delayed by various issues, including land procurement and the COVID-19 pandemic, will connect Jakarta to Bandung and is set to be commercially launched on October 1. Li's visit coincides with his attendance at the East Asia summit and other meetings in Jakarta, while U.S. Vice President Kamala Harris is also expected to be present.

via Yahoo News|
#belt-and-road-initiative#china#high-speed-rail
infrastructure2 years ago

China Premier Witnesses High-Speed Rail Trial in Indonesia

Chinese Premier Li Qiang will attend the trial run of a $7.3 billion high-speed rail project in Indonesia, funded by China as part of the Belt and Road Initiative. The project, which has faced delays and cost overruns, will connect Jakarta to Bandung and is set to be commercially launched on October 1. Premier Li's visit comes as he attends the East Asia summit and other meetings in Jakarta.

via Reuters.com|
#belt-and-road-initiative#china#high-speed-rail
economy2 years ago

China's Economic Crisis: Implications for Premier Li Qiang and the Global Economy

Premier Li Qiang is facing a challenging task of repairing China's struggling economy during his first five months in office. While he has been promoting President Xi Jinping's agenda and attempting to empower the economy, observers are questioning the effectiveness of his policy toolbox and whether more concrete actions will be taken to restore confidence in the economy.

via South China Morning Post|
#china#confidence#economic-crisis
business2 years ago

China's Premier Addresses Growth Concerns at 'Summer Davos'

Premier Li Qiang addressed the World Economic Forum's 14th Annual Meeting of the New Champions, also known as the Summer Davos, in Tianjin, China. He aimed to attract foreign businesses and private investment to China and renew momentum for innovation and entrepreneurship to drive growth and a more equitable, sustainable, and resilient global economy. The meeting covered six key pillars, including rewiring growth, China in the global context, energy transition and materials, post-pandemic consumers, safeguarding nature and climate, and deploying innovation.

via South China Morning Post|
#business#china#economy
business2 years ago

EU companies reevaluate China strategy to minimize risk.

A business-confidence survey conducted by the EU Chamber of Commerce in China shows a record-low share of firms planning to expand this year. EU firms are reassessing their presence in China and looking to de-risk. The top choices for new Asia headquarters among EU firms that have moved or plan to move from China are Singapore and Japan. Premier Li Qiang is in Europe to boost relations with major powers.

via South China Morning Post|
#asia-headquarters#business#business-confidence-survey
business2 years ago

Elon Musk Plans China Visit to Meet Premier.

Tesla CEO Elon Musk is seeking a meeting with Premier Li Qiang during a visit to China in early April, according to sources. China is Tesla's second-largest market and its Shanghai plant is the company's largest production facility. The exact purpose of the meeting is unknown, but Musk and Li have met before at the opening of the Shanghai plant in 2019. Tesla is currently facing delays in its plans to increase production capacity at the Shanghai plant and is waiting for approval to offer its full self-driving technology in China.

via Fox Business|
#business#china#elon-musk