TAIPEI, Taiwan (Nov 06) — Chinese Premier Li Qiang on Sunday pledged to continue deepening reforms, expand free trade zones and relax market access for foreign investment while seeking to generate excitement around a largely lackluster economy.
Li made the remarks when delivering a keynote speech at the opening of the 6th China International Import Expo in Shanghai, seeking to draw thousands of foreign businesses shopping for Chinese products and looking to expand trade and investment with the world’s second-largest economy.
China’s economy expanded at a 4.9% annual pace between July-September, beating analysts’ forecasts of about 4.5%, official data show. But that was much slower than the 6.3% annual growth rate of the previous quarter.
The Chinese government has adopted various policies to help the economy; raising spending on building ports and other infrastructure, cutting interest rates and easing curbs on home-buying. But economists say wider reforms are needed to address long-term problems that are stifling growth.
