MNI POLICY: China Calls for Global Efforts for Recovery

The current global economic downturn will require a long recovery period as many uncertainties persist, and joint efforts are needed to contain the pandemic and promote growth, Chinese Premier Li Keqiang said on Tuesday.

Still, Li said his government had been "timely, effective and accurate" in implementing its policies, setting China on a stable recovery and likely to achieve a positive growth and major annual targets this year. Li made the remark to global business people during the online World Economic Forum.

"China has created over seven million new jobs so far this year," said Li, adding that China still needs to overcome risks and challenges, according to a transcript emailed by the government.

Li said safeguarding market entities, particularly private and small companies and small business owners, is the key to stabilizing employment and the economic fundamentals.

He stated his government will have reduced business fees and taxes by CNY2.5 trillion this year.