Economic takeaways from Premier Li's press conference

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‍Policies concerning the economy are one of the top priorities that Premier Li emphasized during his press conference on Tuesday.

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Premier Li said China is willing to reduce the general level of the import commodity tax rate. Anti-cancer drugs are expected to be approved as tariff free. It is necessary to relax access to services, especially in the fields of pensions, healthcare, education and finance. The manufacturing sector will be liberalized in an all-round way.

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The Premier also said China will continue to reduce the deficit rate, but it won't affect the trend of positive fiscal policies. China has a huge foreign exchange reserve and operates in accordance with market regulations. China is a responsible long-term investor.

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Premier Li said it is necessary to create and expand employment opportunities for migrant workers. It is also necessary to guarantee the employment of graduates of colleges and universities, and the re-employment of laid-off workers and other groups. China will never allow zero employment families to appear.

CGTN Photo

The premier pointed out that trade disputes can only be resolved through negotiations and dialogue. It is hoped that the US will soften its tough controls on the export of high-tech and high value-added products to China. China will strictly protect intellectual property rights. There is no winner in a trade war.