Chinese Premier Li Keqiang has presented a bundle of new policies aimed at creating a more favourable environment for businesses in China, as the country looks to shore up overseas commercial interest in the wake of Washington’s latest tariff measures.
“Chinese and foreign companies can compete on a level playing field in this big market,” Li said at a World Economic Forum event in Tianjin on Wednesday. “That gives better vitality to the Chinese economy.”
Among the new plans are tax cuts and greater access to financing for China’s private businesses, which have been the worst affected by the ongoing disputes.
“The pool is full of water, the challenge is to unblock the channels,” said Li.
On the topic of whether or not China will use its currency as a weapon in the trade war with the US, Li said any support for this was “groundless.”
“One-way depreciation of the yuan brings more harm than benefits for China,” Li added. “China will never go down the road of relying on yuan depreciation to stimulate exports.”