Friday, 22 March, 2019

China ready to use more policy tools to boost economy

China announces plans to stabilise growth amid trade war with US Premier: China needs 'strong measures' to support economy
Jeannette Daniel | 17 March, 2019, 13:40

China's population above 60 years has touched 420 million and that of children over six years to 100 million, putting heavy pressure on nursing services and day care centres, Chinese Premier Li Keqiang said on Friday.

Premier Li Keqiang, speaking in a nationally televised news conference, said Friday the communist government will cut taxes and take other steps to "boost the vitality of the market".

He made the remarks at a press conference in Beijing after the conclusion of the annual national legislative session. Gross domestic product grew 6.6 percent in 2018 - the least in 28 years.

The government should take more measures to encourage private investment to develop the services, but effective supervision is needed to ensure such services are safe, Li added.

China will bolster its national coffers by collecting more of the profits earned by some financial institutions and centrally-owned firms, while general expenditure will be cut, Li said.

It will prevent zero-employment families and provide more policy support to companies that hire more people.

China's normally steady unemployment rate rose to 5.3 percent last month, from 4.9 percent in December previous year.

Li also said China can use such tools as the reserve requirement ratio of banks and interest rates to support the economy.

More news: Venezuela's falling oil supply is a major 'challenge' to global energy markets

The US and China, the world's two largest economies, are locked in a trade war since President Donald Trump imposed heavy tariffs on imported steel and aluminium items from China in March previous year.

President Donald Trump and China's leader Xi Jinping were originally expected to meet at the end of March to sign an anticipated deal, but now that has reportedly been pushed back to sometime in April.

He also projected the new foreign investment law approved by the NPC in the shortest possible time could be a main driver of growth in future.

China will introduce a series of regulations and documents in accordance with the foreign investment law to protect the legitimate rights and interests of foreign investors, he said skirting question that whether it was passed in a hurry to meet the USA demands to a end trade war.

Washington and Beijing have been locked in a tit-for-tat tariff battle as US presses China for an end to practices and policies it argues have given Chinese firms unfair advantages, including subsidizing of industry, limits on access for foreign companies and alleged theft of intellectual property.

The law, created to ease concerns among foreign companies about the difficulties they face in China, will ban forced technology transfer and illegal government "interference" in foreign business practices.

Li's comments suggest Beijing will roll out more stimulus measures to ease the strain on businesses and consumers. The talks and tensions stretch far beyond trade and tariffs.

Recommended

Day, Scott on pace at Players Championship Day, Scott on pace at Players Championship But it seems his decision to skip a tournament he has won eight times was more precautionary than the result of a serious problem. $12.5 million will be on the line this week with a cool $2.25 million check going to the victor .

Nigeria Is The 4th Country With Highest HIV/AIDS victims - Minister Nigeria Is The 4th Country With Highest HIV/AIDS victims - Minister Adewole noted that based on the survey, the new position places Nigeria after South Africa, India and Mozambique. The President said he was excited that the rate of Persons Living with the scourge has dropped to 1.9m.

New Zealand PM Says Got "Manifesto" From Gunman "9 Minutes Before Attack" New Zealand PM Says Got New Zealand has in the past tried to tighten firearm laws, but a strong gun lobby and culture of hunting has stymied such efforts. He used a semi-automatic shotgun as well as a modified semi-automatic rifle as he pummelled victims with multiple bullets.

Residents take advantage of free health screening on Kidney Day Residents take advantage of free health screening on Kidney Day Kidney disease can be detected by the doctor after performing certain tests to check the functionality of the organ. It should be noted, however, that anyone could suffer from kidney diseases , irrespective of age and gender.

Mozambique cyclone kills dozens, cuts power to SA Mozambique cyclone kills dozens, cuts power to SA The surge could submerge thousands of homes and businesses, and potentially displace more than 1,000 residents, the Post reports. Many houses have been damaged and bridges washed away in parts of the Manicaland province which borders Mozambique.

Real Madrid coach Zidane: Ceballos deserved his selection Real Madrid coach Zidane: Ceballos deserved his selection As quoted by the Daily Mail , Solskjaer said: "I can't really comment on Gareth Bale or specific players". But, also, when we don't have the ball, we must run, to get it back.

Auburn vs. Florida - 3/16/19 College Basketball Pick, Odds, and Prediction Auburn vs. Florida - 3/16/19 College Basketball Pick, Odds, and Prediction The freshman guard was held out of LSU's win over Vanderbilt to close the regular season and didn't learn until about 9:45 a.m. Jalen Hudson drove for a layup with 7.4 seconds to go, then Harper hit one of two free throws with 6.2 seconds left.

Sports canceled as traumatized New Zealand mourns shooting victims Sports canceled as traumatized New Zealand mourns shooting victims Labelling the attack as an act of terrorism, New Zealand Prime Minister Jacinda Ardern has vowed to reform the country's gun laws. A second survivor, Faisal Sayed, said: "If that hadn't happened, many more would have died and I wouldn't be here now".

Respawn plays down Apex Legends datamine leaks Respawn plays down Apex Legends datamine leaks We know this stuff is fun to dig up and speculate about, but you should not treat any of that info as a source of truth '. For now, participants in Apex Legends can look forward to Octane , the only confirmed roster addition thus far.

Johnny Manziel signs with AAF, report says Johnny Manziel signs with AAF, report says It was his first football action since he was released by the NFL's Cleveland Browns following the 2015 season. He entered the 2013 National Football League draft, and was selected No. 22 overall by the Browns.

Nine missing after Christchurch mosque attacks Nine missing after Christchurch mosque attacks Armed police were deployed at several locations in all cities, unusual in a country where levels of gun violence are low . Footage of the attack live streamed on Facebook showed the gunman entering the mosque and shooting randomly at people.

The Roger Federer vs Rafael Nadal rivalry by the numbers The Roger Federer vs Rafael Nadal rivalry by the numbers After 38 career meetings, Nadal leads the series 23-15, but Federer holds a slight 11-9 advantage on hardcourts. Federer will face Dominic Thiem , who defeated Milos Raonic 7-6 (3), 6-7 (3), 6-4, in the final.

Volkswagen supervisory board condemns CEO's 'EBIT macht frei' remark Volkswagen supervisory board condemns CEO's 'EBIT macht frei' remark Volkswagen was founded in 1937, as part of Nazi leader Adolf Hitler's vision to enable German families to own their first auto . The Volkswagen factory was also repurposed during the Nazi era to build military vehicles and equipment.

Jaguar Land Rover recalls 44000 cars over Carbon dioxide emissions Jaguar Land Rover recalls 44000 cars over Carbon dioxide  emissions The manufacturer said that some of the models will need physical repairs in a dealership, while some will need software updates. Recalls of cars to fix safety defects happen fairly often, but full product recalls because of exhaust emissions are rare.

Paris Jackson is 'Doing Fine' After Recent Hospitalization Paris Jackson is 'Doing Fine' After Recent Hospitalization Jackson responded to a Twitter user, who pointed out that she hasn't spoken publically about the documentary. According to TMZ , first responders were called to Jackson's Los Angeles home around 7:30 a.m.