Chinese premier vows to further stimulate market vitality

CHINESE Premier Li Keqiang here on Monday met with foreign representatives who were here to attend the China Development Forum 2019, pledging to use the reform and opening up as a driving force to further stimulate market vitality to ensure the healthy development of the CHINESE economy.

The representatives include heads of some of the world's top 500 companies, scholars from renowned research institutions and representatives of international organizations.

During the meeting, Dieter Zetsche, chairman of the board of management of Daimler AG, IBM chairman Ginni Rometty, BMW CEO Harald Krueger, Pfizer CEO Albert Bourla and Rio Tinto Chief Executive Jean-Sebastien Jacques put forward questions to the CHINESE premier, to which Li respectively gave replies.

Li said that China overall achieved a stable performance while at the same time secured progress in its economic development last year. In the face of new downward pressure, China will continue to vigorously promote countermeasures such as tax and fee reduction and fostering new growth engines.

Instead of expanding the deficit and relaxing the monetary policy, China will roll out measures focusing on the market, said Li.

Reiterating that China's door will open to the outside world wider and wider, Li said China will strengthen the protection of foreign businesses' legitimate rights and interests.

Noting that China's national legislature recently passed the foreign investment law, Li said such a move was aimed at better protecting foreign investment in China through legal means.

He said China encourages the development of new technologies and new industrial models and makes efforts to create space for innovation.

He said China will comprehensively strengthen the protection of intellectual property rights and improve the punitive damages system for IPR infringement. The country will never allow the forced transfer of technology and will resolutely crack down on all kinds of IPR infringements in accordance with the law, so as to create an international, market-oriented and rule-based business environment.

The representatives expressed their confidence in the CHINESE market, saying they will expand trade and investment in China so as to better share the opportunities of the country's development.