Liu He Optimistic About China's Economy, Li Keqiang Mentions Downward Economic Pressures

[Image source=Yonhap News]

[Asia Economy Beijing=Special Correspondent Park Sun-mi] Liu He, Vice Premier of China, who is visiting Washington to sign the US-China Phase One trade agreement, expressed an optimistic view on the Chinese economy.

According to China’s state-run Xinhua News Agency on the 16th, Vice Premier Liu met with Chinese media in Washington after signing the Phase One agreement and stated that China’s GDP growth rate for last year is expected to exceed 6%, adding that the economic indicators for January 2020 are much better than expected, reflecting his optimistic outlook.

Vice Premier Liu also said, "The Chinese economy is transitioning from high-speed growth to high-quality growth," and explained, "China will continue to improve the legal environment. This Phase One trade agreement goes far beyond an economic agreement. It is important both economically and politically."

Liu’s optimistic economic remarks came ahead of China’s announcement of the 2019 GDP, which is scheduled for tomorrow.

Experts are concerned that although China’s economic growth rate last year will meet the government’s initial target of 6 to 6.5%, it will record the lowest growth rate in history, clearly showing the downward pressure on the Chinese economy.

Meanwhile, Premier Li Keqiang, at a roundtable meeting to hear opinions from experts, scholars, and entrepreneurs on this year’s government work report, said, "The domestic and international situation this year is complex and severe," urging, "We must firmly implement policies to respond to difficult challenges and build a moderately prosperous society."

Addressing the attendees, Premier Li emphasized the need to invigorate the Chinese economy by establishing an internationalized business environment and said, "The government will pay attention to the concerns of enterprises and will continuously promote streamlining government agencies, deregulation, and service optimization to minimize government interference in the market. Through this, we must create a fair environment for business management and competition to withstand the downward pressure on the economy."