Chinese Premier Li’s speech at China-Indonesia business summit

Li Keqiang,Chinese Premier, attended the China-Indonesia Business Summit in Jakarta on the evening of May 7th, and delivered a keynote speech. In the speech, Li Keqiang made a series of explanations on future business cooperation between China and Indonesia. Both China and Indonesia will promote the facilitation of trade and investment liberalization. Both sides support economic globalization, advocate free trade, and maintain a rules-based multilateral trading system, and advocate the settlement of trade disputes through equal consultations. China is willing to import more Indonesian competitive specialty products. The two sides agreed to increase the level of trade facilitation, and will vigorously develop cross-border e-commerce and build the cooperation bridge for SMEs between the two countries. China will support Chinese companies in participating in the development of Indonesia’s regional comprehensive economic corridors, encourage Chinese enterprises to support Indonesia’s infrastructure improvement and explore cooperation in ports, maritime economy, industrial processing and overseas warehouses, Li said, adding that Indonesia is also welcome to open an investment promotion center in China. In addition, Chinese Premier Li Keqiang also talked briefly about the Chinese economy. In the past five years, China’s economy kept a medium-high growth rate of 7.1 percent annually on average. In 2017, China’s GDP reached 82 trillion RMB yuan. The share of the services sector in total GDP rose to 51.6 percent, indicating an improved economic structure. The Chinese economy has contributed over 30 percent to global growth on an average annual basis. In the first quarter of this year, GDP grew by 6.8 percent year-on-year, and an average of 15,000 new businesses were registered every day. Major international economic organizations recently made another upward revision of China’s growth forecasts in 2018. As the economy continues to grow, living standards have improved significantly. Looking forward, China will make even greater efforts to see the reform through. And China have drawn up an overarching plan on comprehensively deepening reform. One priority is to foster a world-class business environment. China will transform government functions at a faster pace, reduce government-imposed transaction cost, and work to unlock market vitality and public creativity. At the same time, China will pursue greater opening-up in both goods and services. And will implement more proactive import policies and lower import tariffs on automobiles, certain drugs and everyday consumer goods. China will strengthen IPR protection, and render the same treatment and foster a level playing field for Chinese and foreign enterprises alike. China welcomes foreign investment in China and encourage well-established Chinese businesses to invest overseas for win-win outcomes. Source: www.gov.cn
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