Li-Gov't Will Establish Mechanism For Comms w/Foreign, Private Firms

(MNI) London - State media carrying comments from Chinese Premier Li Qiang regarding the Chinese economy. Says that the gov't "Will implement policy measures to stabilise growth, employment, and prevent risks." Adds that the gov't "Will establish normalised communication mechanism between gov't and foreign, private firms."

• Li: "Targeted, combined, and coordinated policy measures should be promptly implemented." Li states that the Chinese economy is picking up, and makes a call for "greater strategic focus and greater confidence in development."
• The comments about creating a communications mechanism comes just days after the Chinese gov't announced new export controls on gallium and germanium, key raw materials for chip and solar panel production. The move was seen as largely unexpected and has causedsomething of a race for western firms to secure supplies.
• Li's comments on the economy come as US Treasury Secretary Janet Yellen beings a three-day visit to Beijing where she is set to hold talks with senior officials. While significant progress is not expected at the meeting, the visit itself comes as another sign of a nascent thaw in relations, highlighted in a recent MNI Interview with a Chinese international relations expert.