Good Outcomes Hoped for China-U.S. Trade Consultations: Chinese Premier

Premier: China needs 'strong measures' to support economy

Premier: China needs 'strong measures' to support economy

"The Chinese economy has indeed encountered new downward pressure, while the global economy is slowing down", Li said at the end of the annual session of the Chinese National People's Congress.

The ruling Communist Party maintains that Taiwan is part of China and says it seeks "peaceful reunification".

President Donald Trump and China's leader Xi Jinping were originally expected to meet at the end of March to sign an anticipated deal, but now that has reportedly been pushed back to sometime in April.

China is facing "downward pressures", Premier Li Keqiang admitted Friday as he announced plans to boost market vitality with a new foreign investment law backed by tax cuts to stabilise growth in the world's second-largest economy amid a bruising trade war with the US.

The supply of nursing services for the elderly and infants in China is insufficient and can not meet demand, and this situation deserves the highest attention, Li said.

Premier Li Keqiang said the government would not ask any company to spy on its behalf.

Even if we accelerate building elderly nursing homes and multi-functional kindergartens, the supply shortage may not be completely eased due to the rapid population ageing in China, he said.

Trump imposed tariff hikes of up to 25 per cent on United States dollars 250 billion of Chinese goods.

The figures were the latest in a string of indicators pointing to an extended slowdown, with Beijing feeling the effects of a painful trade dispute with the US.

On Friday, China's parliament approved a new foreign investment law that promises to create a transparent environment for foreign firms, though there is scepticism about its enforceability.

As for growing fears about spying activities by Chinese companies, Li dismissed them, saying that is "not the Chinese way".

Washington has voiced concern that Huawei products may facilitate spying and disrupt communication networks, while urging its allies to exclude the telecommunications firm from government contracts.

Her father is the company's founder, Ren Zhengfei, a former engineer in the People's Liberation Army.

The United States and China have exchanged tariffs on more than $360 billion in two-way trade, and China's exports and imports plummeted much more than expected in February.

The Xinhua report and Li's remarks are a positive uptick.

Li said the negotiations for a China-EU investment treaty are being advanced to make two-way investment flows more open and benefit the two sides on an equal footing.

Li said the downward adjustment of the GDP growth target was made against the backdrop of a slowing global economy, as several worldwide organisations have recently lowered their forecasts for global growth this year.

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