China wants to speed up business reforms, investment to boost slowing economy: premier

This post was originally published on this site

https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEFAQ240_L.jpg

SHANGHAI (Reuters) – China will speed up reforms to help build a market-based, globalized business environment and break investment barriers for all kinds of companies, Premier Li Keqiang was quoted as saying during a Cabinet meeting on Wednesday.

Economic growth slowed to 6% year on year in the third quarter of 2019, the weakest pace in more than 25 years, with the economy hit by a punishing trade war with the United States.

China has already drawn up new measures to start on Jan. 1 to “optimize” the business environment aimed at improving productivity and competitiveness.

Li was also quoted as saying in a summary of the Cabinet meeting published on China’s official government website (http://www.gov.cn) that taxes would continue to be cut as part of efforts to stimulate the slowing economy.

China aims to reduce administrative barriers, lower industry entry thresholds, eliminate discriminatory practices and decentralize investment decisions, the summary said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.