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China seeks to avoid trade war with US

China seeks to avoid trade war with US

Li said China will look to cut taxes and fees on companies by 1 trillion yuan (US$144.67 billion) this year, while adding that the government has enough policy tools to handle any risks.

Addressing a news conference on the final day of the annual meeting of China's parliament, Li reaffirmed China's commitment to denuclearise the Korean peninsula. The policy is the "political foundation of China-US relations", the premier said.

Li's remarks to press come ahead of a much-anticipated meeting between President Donald Trump and Chinese President Xi Jinping at Trump's Mar-a-lago resort in Florida next month.

The Trump administration has stirred concern in Europe due to doubts about North Atlantic Treaty Organisation and countering Russian Federation in Ukraine, as well as over free trade.

The Chinese Premier of the State Council, Li Keqiang has said that China's economy is a driving force in the face of recession for the world's economy.

Li said that despite disparate interests over the maritime dispute, China's Southeast Asian neighbours would remain its regional diplomatic priority, adding that long-stalled talks between Beijing and Asean over a code of conduct in the South China Sea had made substantive progress.

"If there were a trade war, it would be foreign-funded companies, particularly U.S. firms, that would first bear the brunt", the premier said while explaining that this was the conclusion of a study by a "reputed" worldwide think-tank.

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Customers should also heed the warning of yellow caution tape, which indicates there is a downed power line in the area. He said the city was the hardest hit community in Macomb County, with the city's southwest area hit the worst.

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New Zealand wrapped up the South African innings five overs after lunch, with the last six wickets falling for only 56 runs. For New Zealand , Trent Boult took 4 for 64, Neil Wagner got 3 for 88 and Patel claimed 2 for 85.

Acknowledging potential risks in the financial sector, Li said the government will take them seriously and adopt prompt and targeted measures to prevent them from spreading.

On Wednesday, Li said that while the United States and China have experienced "all kinds of difficulties" in the bilateral relation, the two sides must "keep moving forward, with an optimistic attitude".

The Premier of State further highlighted that China will continue to open up to the world, even on a higher level.

China targets about 6.5 percent economic growth this year, which is slower than the 6.7 percent expansion achieved in 2016.

"The key is to continue generating jobs", Li said.

"China is willing to work with other countries to improve the global governance system", he said.

Hoping to kick-start discussions, Chinese Foreign Minister Wang Yi last week suggested that North Korea might suspend its nuclear and missile activities in exchange for a halt to the joint U.S.

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