Highlights of Premier Li's news conference

Good outcomes hoped for China-US trade consultations

Good outcomes are hoped to be delivered out of the economic and trade consultations between China and the United States, Premier Li Keqiang said on March 15.

China hopes the talks will deliver win-win results and mutual benefits, Premier Li said at a press conference after the conclusion of the annual session of China’s national legislature.

“I believe this is also what the whole world would like to see,” he said.

China and the United States have become closely intertwined through years of development and cooperation, it is neither realistic nor possible to decouple the two economies, he said.

“I believe we need to continue to follow the principles of cooperation instead of confrontation, mutual respect, equality, and mutual benefits to advance bilateral relations, including economic and trade ties, to deliver concrete benefits to people of the countries,” he said.

China has confidence that the two peoples have the wisdom and capability to diffuse and manage their differences to pursue steady and sound development of China-US relationship, he added.

Despite twists and turns, Premier Li said the overall relationship between China and the United States will forge ahead, as their shared interests far outweigh differences.

China determined to implement larger tax, fee cuts

Premier Li Keqiang said on March 15 that the country is determined to implement larger scale tax and fee cuts this year as a key countermeasure against downward economic pressure.

The Premier made the remarks at a news conference after the conclusion of the annual session of China’s national legislature.

“We are going to cut value-added tax rates for manufacturing and other basic sectors, as well as for small and medium-sized companies, the largest providers of jobs in our country, in a meaningful way,” the Premier said.

“This will create a more enabling environment for companies and in effect cultivate our tax sources.”

Noting that the reform requires exceptional courage and determination, Premier Li said the government must live on a tight budget given the drop in fiscal revenues.

“This is not something taking an overdraft on our future, but nurturing a better tomorrow,” Premier Li said.