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Archive for the tag “Vice Premier of the People’s Republic of China”

China’s Li Says Economic Overhaul Must Accelerate to Keep Growth

Chinese Vice Premier Li Keqiang, promoted last week to the No. 2 spot in the ruling Communist Party and set to take the job of premier in March, said three decades of economic opening must be accelerated as the push to overhaul the economy encounters obstacles.

Li, speaking Nov. 21 at a meeting in Beijing, said China needed to accelerate economic overhaul, citing areas including improving state-owned enterprises and the taxation system, according to remarks published on the government’s website.

“At present reform has encountered a ‘fortress area’ and a ‘deep water area,’” where there are countercurrents that can push back progress, Li said. “We must overcome difficulties and get rid of all institutional obstacles that hinder scientific development.”

Read Here – Businessweek

Xi-Li Inherit Weakest Economy Growth Since Deng Opened China

China’s new leaders are poised to inherit the weakest economic growth since Deng Xiaopingthree decades ago and may need to borrow from his market-opening tool kit to avert a steeper decline. As the Communist Party prepares to anoint Vice President Xi Jinping, 59, and Vice Premier Li Keqiang, 57, next month as its so-called fifth generation in charge, data from exports to production signal the government will struggle this year to reach its 7.5 percent expansion target. The retiring top echelon took power in 2003 with growth above 9 percent and their predecessors were bequeathed a 14 percent pace in 1993, a year after Deng toured the southern boomtowns he’d spawned, urging more change.

Read Here – Bloomberg

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