China premier calls for fresh Korea nuke talks

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China premier calls for fresh Korea nuke talks

That would increase the return on USA bonds and other financial assets, drawing more money out of China.

China has no plans to devalue its yuan to boost exports and will keep its exchange rate stable, the country's top economic official said yesterday.

"China hopes that, no matter what bumps this relationship may run into, it will continue to forge in the right direction", said Li.

The premier affirmed Beijing's commitment to free trade, on which Chinese leaders have emerged as global advocates in response to Mr Trump's calls for controls on imports, despite complaints China is the most-closed major economy.

Li Keqiang was speaking hours after Robert Lighthizer, President Donald Trump's nominee for United States trade representative, said China would be one of his major challenges, requiring a "multi-faceted" approach to combat its alleged trade abuses.

While it was true that China and the United States had differences, "it is important for both countries to uphold strategic interests to enhance mutual understanding", he said.

Addressing a press conference after the conclusion of the annual session of China's national legislature, Li said "diplomatic authorities of the two countries are already engaged concerning a face-to-face meeting" between the two presidents.

He went on to say that China does not want to see a trade war between the world's biggest and second biggest economies.

JC Penney announces closure of Decorah store, 137 others
The former Martinsburg Mall - now Foxcroft Towne Center - is seen gutted out from the roadway Friday in Martinsburg. More stores could close to save money, but for now, the site at the Chautauqua Mall in Lakewood was not on the list.

While many analysts doubt the strength and consistency of Chinese official data, even some veteran China sceptics agree that economic activity did pick up previous year, buoyed by heavy government stimulus in the form of record bank lending and billions in government infrastructure spending, as well as a speculative housing boom.

"The depreciation of the Chinese Yuan against the dollar is quite modest", Mr Li said. The economy grew 6.7 percent previous year.

"I should point out that 6.5 percent growth is not low speed and will not be easy for us to meet". This is seen as a reference to Trump's "America first" policy. "We will take prompt and targeted measures to prevent them from further spreading", Li said.

Li said China will look to cut taxes and fees on companies by 1 trillion yuan ($144.67 billion) this year, while adding that the government has enough policy tools to handle any risks. "We still have a good reserve of policy options and instruments at our disposal".

The government needs to exercise careful regulation in an open-minded and accommodating way to enable the healthy development of new business forms boosted by the initiative, he said.

China will open its markets wider despite "frictions in trade and investment", Mr Li said.

"With that foundation in place, we believe there are bright prospects for China-U.S. cooperation", he said.

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