Li Keqiang gets second term as China's Prime Minister


Li Keqiang gets second term as China's Prime Minister

Cheryl Sanders
March 20, 2018

After the voting, President Xi signed a presidential decree for the appointment of Li as prime minister.

President Xi Jinping has made tackling financial risk a priority over the next three years while the government has set up the Financial Stability and Development Commission to coordinate efforts to contain a possible crisis.

The agency, which ranks alongside the central government and above the judiciary, will operate independently of the courts against corruption, malfeasance or any lax implementation of political goals by civil servants.

Xi, who is considered the most powerful Chinese leader since the founder of communist China, Mao Zedong, was unanimously re-elected as president on Saturday by the parliament.? Xi chairs both the state and the party's military commission. He said that would be contrary to trade rules based on negotiation and dialogue and would damage a mutually beneficial U.S. "We hope trade will be balanced".


Trump says Beijing has forced USA companies to transfer their intellectual property to China as a cost of doing business there, though China has insisted that technology transfers are not a condition of gaining market access.

But they could be much broader and hit consumer products such as clothing and footwear, with a list eventually running to 100 products, this source said.

"We hope the USA could ease restrictions on high-tech or high value-added product exports", Li said.

China will continue to streamline administrations and delegate power to improve business environment and further stimulate market vitality, Li said.


He added that intellectual property rights will be protected in a "strict way". But Trump says Beijing has forced USA companies to transfer their intellectual property to China as a cost of doing business there.

Li is expected to take part in a 3-way summit of Japan, China and South Korea.

Mr Li "was sidelined from the premier's traditional economic policy bailiwick early on in his tenure", Mr Jonathan Sullivan, director of the China Policy Institute at Nottingham University, told AFP.

The Chinese central bank was being given responsibility for drafting important laws covering banking and insurance sector, with regulation over the $42 trillion sector becoming more streamlined and tighter.


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