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

A photo from 2011 shows Roberto Gómez Bolaños and his wife Florinda Meza at the 25th Annual Hispanic Heritage Awards at The John F. Kennedy Center in Washington. Bolaños reportedly died on Friday at age 85.

Mexican TV Icon Roberto Gómez Bolaños Dies At 85

The actor, writer and director was a staple of Mexican television comedies and children’s programs for decades.


Ray Rice arrives with his wife Janay Palmer for an appeal hearing of his indefinite suspension from the NFL, on Nov. 5. in New York.

Ray Rice Wins Appeal, Reinstated By NFL

The former Baltimore Ravens running back had been suspended indefinitely after a video surfaced showing him hitting his then-fiancee.


Attack On Mosque In Nigeria Kills Dozens

Authorities believe the attack in the northern city of Kano was the work of Boko Haram militants, although the group did not immediately claim responsibility.


Police tape marks off the scene after authorities apparently shot and killed a man who they say opened fire on the Mexican Consulate, police headquarters and other downtown buildings early Friday.

Texas Man Killed After Firing At Government Buildings

The gunman fired more than 100 rounds at a federal courthouse, a bank and the Mexican consulate before trying to set the consulate on fire. He died during a shootout with authorities.


America’s Black Friday Craziness Has Crossed The Pond

The wild discount shopping that once was only a U.S. phenomenon has caught on in the U.K. and elsewhere, thanks largely to online retail giant Amazon.


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