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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI POLICY: No Surprises Expected From China Econ: Premier Li
BEIJING (MNI) - Chinese Premier Li Keqiang addressed the press Friday at
the conclusion of the National People's Congress. The following are the key
points.
--China has lowered its growth target, switching to a range and the goal
for 2019 is 6% to 6.5%, Li noted, saying it sends a signal to the financial
markets that the economy is expected to stay in a stable range.
--Li confirmed China will cut value-added tax (VAT) for manufacturing,
transport, construction and other sectors on April 1, and also start cutting
social security fees from May 1, with the stimulus seen as a boost to the
economy.
--China will look to 'market vitality' to overcome the economic slowdown
and resist the use stimulus measures such as quantitative easing and a sharp
increase in the fiscal deficit. The government should continue to promote tax
and fee cuts, relax market access and create a fair business environment, Li
said.
--The government will make efforts to reduce financing costs of small and
micro enterprises by one percentage point compared to last year's costs.
--China is capable of preventing systemic financial risks and "zombie
enterprises" which do not meet the conditions for survival should not be given
fresh loans.
--China's new foreign investment law will see the creation of a new
complaints filing regime and information disclosure mechanism to ensure greater
transparency, aiming to better protect and attract foreign investors.
--It is both unrealistic and impossible to decouple China and the U.S.,
given that the two economies are so intertwined. The bilateral relationship will
continue to move forward despite disputes.
--"Sino-U.S. trade friction is a bilateral matter between China and the
U.S. We will not use third parties, nor will we harm third parties," said
Premier Li, when asked if the trade dispute will impact on China-EU relations.
--Beijing will never order Chinese tech companies to track other countries,
neither foreign governments nor individuals, as it is not in line with Chinese
law, nor the Chinese way of doing things.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MGQ$$$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.