World Economy Needs China Post-COVID-19, Urban Employment to Grow by 9M in 2020: Li Keqiang

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Premier Li Keqiang says that Chinese economy is making a robust recovery from the early impacts of the COVID-19 pandemic, and is on track to meet key employment targets for 2020.

Li said that China’s economy had stabilised and rebounded in the wake of the severe impacts brought by the COVID-19 pandemic, and in the past several months key indicators had maintained a steady momentum of recovery.

Li said that this attests to the resilience of the Chinese economy, and expects that China will satisfy its full year target of increasing urban employment by 9 million in 2020.

Li made the remarks on 15 September in Beijing at a meeting of the World Economic Forum.

With regard to international economic relations, Li said that “the Chinese economy is already deeply integrated into the world [economy].”

“China’s growth cannot do without the world [economy], and global growth also needs China.”

To this end Li said that China would “unwaveringly deepen reform and expand opening,” with key measures including “attracting more foreign investment, developing foreign trade and achieving a higher level of external opening.”

“China will continue to loosen market entry conditions, protect the lawful rights and interests of foreign capital, and operate a fair and competitive market environment which treats domestic and foreign-invested enterprises equally.

“Economic globalisation is an irreversible trend…[we] need to jointly maintain the freedom and convenience of trade and investment, and restore global industry supply chains as soon as possible, so that the global economy can come back to life.”

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