China Unveils Initiatives to Attract Foreign Investment and Address Local Debt
In a decisive move to stimulate economic growth, Chinese Premier Li Qiang chaired a State Council executive meeting on Friday, outlining strategies to enhance foreign investment and mitigate local debt risks.
The meeting emphasized the significance of foreign direct investment (FDI) in bolstering China’s economy. Premier Li underscored the importance of stabilizing foreign investment as a focal point for this year’s economic endeavors. “Efforts must be intensified to widen market access, further level the playing field, and facilitate the smooth flow of innovation factors,” he stated.
The government pledged to reinforce foreign investor confidence by creating a more favorable business environment. This includes enhancing the quality and level of trade and investment cooperation, signaling China’s commitment to openness and international collaboration.
Addressing local debt, the meeting acknowledged that risks have generally been alleviated but highlighted the need for continued vigilance. The council called for boosted policy support and proactive measures to tackle problems at their roots. Establishing a robust government debt management system was identified as crucial to meeting the demands of high-quality development.
The inconvenience faced by the elderly population and foreign visitors in payment processes was also brought to attention. The meeting advocated for coordinated efforts and increased resources to develop and integrate diverse payment methods, ensuring accessibility and convenience for all users.
Reflecting on legislative matters, the State Council reviewed a report on handling suggestions from deputies of the National People’s Congress and proposals from members of the National Committee of the Chinese People’s Political Consultative Conference over the past year. The council successfully addressed all submissions, leading to the implementation of over 2,000 policies and measures tackling key economic and social issues.
Looking ahead, the meeting called for dedicated efforts to manage this year’s suggestions and proposals from national lawmakers and political advisors, aligning with the nation’s goals for high-quality development.
Several important government documents received approval during the session, including guidelines for improving payment services and draft regulations on water conservancy, ecological conservation compensation, and consumer rights protection.
These developments reflect China’s strategic approach to fostering economic stability, enhancing international investment relations, and addressing domestic financial challenges.
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China to attract more FDI, defuse local debts as premier chairs meeting
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