Nation & World News

Chinese Premier Says Foreign Companies To Get ‘Equal Treatment’

By Scott Neuman on September 11th, 2013

Chinese Premier Li Keqiang has pledged to treat foreign multinational companies on a par with the country’s own state-owned enterprises, but he warned that an economic rebound remains fragile.

Li, speaking at a business forum in the northeastern city of Dalian on Wednesday, cautioned that the global economic outlook was a “complex situation” and outlined a series of steps designed to keep the country on a moderate but sustainable growth path.

“China will continue to encourage foreign companies to invest and do business in China, and ensure that all companies have equal access … and equal treatment,” he said.

Li acknowledged that China is at “a critical stage of restructuring and updating its economy” and that it can sustain growth only by transforming its model, including a move toward converting the currency, the yuan.

China’s phenomenal growth rates have flattened, partly as a function of a dampening globally, but partly because, as we reported last month, China is at a stage of economic growth that every fast-growing country eventually reaches.

As The Wall Street Journal notes, China “is in the midst of putting together a reform plan that’s aimed at avoiding what happened to countries like Brazil and Mexico — one-time growth champions whose economies slowed before they made it to the ranks of wealthy nations.”

Li, who took office this year, has been pushing for getting away from a credit-, investment- and export-driven economy and moving toward one fueled more by domestic consumption.

In Dalian, he said slower growth rates were an acceptable price to pay to achieve reform.

Li said Beijing was on target for the 7.5 percent growth it aimed for this year, which is substantially slower than the 10 percent annual growth rates it has posted in the past.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

This entry was posted in News from NPR. Bookmark the permalink.

Comments are closed.

 

More Stories in News from NPR

The Supreme Court in Washington, D.C. voted against Arizona's appeal, which would have allowed a state ban on drivers licenses for young undocumented immigrants.

Supreme Court Refuses To Block Arizona Drivers Licenses For ‘Dreamers’

Arizona’s appeal to the U.S. Supreme Court failed to prevent the state from having to issue driving permits to undocumented immigrants brought into the country as children.


George Stinney Jr. appears in an undated police booking photo provided by the South Carolina Department of Archives and History. A South Carolina judge vacated the conviction of the 14-year-old, who was executed in 1944, saying he didn't receive a fair trial.

S.C. Judge Says 1944 Execution Of 14-Year-Old Boy Was Wrong

In her ruling, Circuit Judge Carmen Mullen wrote that she found that “fundamental, Constitutional violations of due process exist in the 1944 prosecution of George Stinney, Jr.”


U.S. intelligence officials believe North Korea was centrally involved in the recent attack on Sony Pictures' computer network — possibly out of retribution for its film The Interview. Above, a security guard stands outside a theater during the film's premiere in Los Angeles last week.

U.S. Officials Believe North Korea Was Behind Sony Hack

The recent attack on Sony Pictures’ computer network that resulted in a flood of confidential data has its origins in North Korea, U.S. intelligence officials say.


Bearing the message "The Greatest Gift is Knowledge," a holiday display by the Satanic Temple will accompany a Christian Nativity scene on the grounds of the Michigan State Capitol.

Satanist And Christian Holiday Displays To Go Up At Michigan Capitol

The situation has brought controversy — and energized Christians who realized that a planned Nativity scene was in danger of being canceled.


Obama Issues 12 Pardons, Commutes 8 Sentences

President Obama commuted the prison sentences of eight people who were convicted of drug-related crimes Wednesday, in a move that also saw 12 presidential pardons issued.


Thank you for your support

WUFT depends on the support of our community — people like you — to help us continue to provide quality programming to North Central Florida.
Become a Sustainer
I want to support FM 89.1/NPR
I want to support Florida's 5/PBS
Donate a Vehicle
Day Sponsorship Payments
Underwriting Payments