CHINA-ECONOMY: CHINESE PREMIER LI KEQIANG DISCUSSES ECONOMY WITH ECONOMISTS AND BUSINESS LEADERS

On July 16, Chinese Premier Li Keqiang discussed the economy with top officials and invited economists and business leaders to give their thoughts on the current economic trajectory. Those who spoke were: Liu Yuanchun, an economist and Vice President of Renmin University; Li Xunlei, Chief Economist at Zhongtai Securities; Wu Ge, Chief Economist at Changjiang Securities; Wang Min, Chairman of XCMG Group, a state-owned heavy machinery manufacturer; Wang Jun, Chairman of Zhejiang Tailong Commercial Bank; and Wang Xing, CEO and founder of meituan.com. At the meeting it was said “China will continue to implement a proactive fiscal policy, a prudent monetary policy and an employment-first policy, while making good use of counter-cyclical regulation tools and carrying out anticipatory adjustments and fine-tuning when necessary.” Li Keqiang did however tell officials that he wants to foster more tech enterprises. He urged them to: “Create favorable conditions to bring about more tech unicorns and tech pioneers”; “Accelerate the cultivation of new drivers of economic growth”; and “Expedite the transition from outdated divers of economic growth to new ones”.
(Comment: The Politburo's is undertaking a big mid-year economic review at the end of the month.)






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