MNI China Press Digest April 18: Economy, U.S., Premier Li

Highlights from Chinese press reports on Thursday:

• China’s domestic demand remains insufficient with weak social expectations, according to Liu Sushe, deputy director of the NDRC. Speaking at a press conference, Liu acknowledged the economic foundation was not yet solid and still faced challenges. Yuan Da, deputy secretary-general of the NDRC, said the economy achieved a good start in Q1, laying a solid foundation for achieving its full-year goals and China's recovery will continue to consolidate as government policy takes effect and it deploys new measures. (Source: Yicai)
• China firmly opposes the Section 301 investigation launched by the U.S targeting China's maritime, logistics and shipbuilding industries, China's commerce ministry said late Wednesday on its website. The petition misinterprets normal trade and investment activities as damaging to U.S. national security and corporate interests, and blames China for U.S. industrial issues, lacking factual basis and running counter to common sense economics, the statement said. Beijing urged the U.S. to immediately cease its erroneous practices, noting it will follow the progress of the investigation closely and take all necessary measures to defend its rights and interests.
• Premier Li Qiang has met with foreign buyers during this year’s Canton Fair calling the event a platform to expand China operations and promote free trade and maintain global supply chain stability. Looking ahead, China will expand high-level opening up, promote trade and investment liberalisation, stabilise global trade and the world economy. Beijing will expand market access, implement equal treatment for foreign enterprises, and safeguard the legitimate rights of overseas firms, the Premier noted. (Source: Yicai)