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在线翻译:
szdaily -> Business_Markets
Premier Li calls for free trade
    2017-September-13  08:53    Shenzhen Daily

THE world economy is showing signs of positive growth but is still fragile and countries should rely on structural reforms, not quantitative easing, to support growth, Premier Li Keqiang said yesterday.

Li, who met with the heads of global bodies, including International Monetary Fund Managing Director Christine Lagarde and World Bank President Jim Yong Kim in Beijing, said that countries should maintain free trade.

“There are increased positive factors in the global economy and signs of warming-up in some aspects. But at the same time, the fragility persists and unstable and uncertain factors are still increasing,” Li told a joint news conference with the heads of international agencies.

“Free trade is a good medicine for resolving problems. Through free trade, we can resolve many problems in the difficult recovery, help companies transform and give consumers more choices,” he said.

Turning to China, Li said the economy would remain steady and continue to improve.

China’s economy grew a stronger-than-expected 6.9 percent in the first half of the year, defying expectations of a slowdown and putting the country on pace to easily meet its growth target of around 6.5 percent.

The country posted stronger-than-expected import growth in August, reinforcing views that the world’s second-largest economy is still expanding at a healthy pace despite tighter policies. Exports showed signs of softening, however, with growth cooling to 5.5 percent from a year earlier.

“Based on the growth trend in recent months, the economy will continue to maintain the trend seen in the first half of the year,” Li said.

He also addressed China’s high leverage ratio, which has been the focus of a campaign by policymakers to control risks.

China’s leverage has stabilized and has even shown some declines, Li said.

Li also reiterated China’s pledge not to resort to competitive currency devaluation.

The onshore spot yuan had gained around 6.5 percent so far this year, about the same percentage loss it suffered in 2016.

The global economy is recovering, but could easily be derailed by policy uncertainty and the threat of protectionism, IMF chief Lagarde told the same briefing.(SD-Agencies)

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