Chinese Premier Li Qiang faces challenges including weak confidence among consumers and private industry, sluggish demand for exports, and worsening relations with the United States.
Making his public debut in a media conference, the close ally of President Xi Jinping said China will“Developing the economy is the fundamental solution for creating jobs,” Li, 63, said in the Great Hall of the People in central Beijing after the closing of the parliamentary session.
“Indeed, last year there were some incorrect remarks about the development of the private economy, which worried some entrepreneurs,” Li said in his televised address, without giving details. The government should address the easier access to financing state-owned companies currently enjoy over their private sector counterparts, as well as consider more stimulus measures for private companies hit hard by three years of COVID, according to Alfredo Montufar-Helu, head of think tank The Conference Board’s China Center.
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