TAIPEI, Taiwan (AP) — China’s premier on Tuesday criticized trade tensions at the start of a conference in northeast China but said open markets and green technology are essential to stabilize global economic growth.
Premier Li Qiang told political and business leaders attending the World Economic Forum’s annual Meeting of New Champions, also known as “Summer Davos,” that China was on track to meet Beijing’s growth target of 5 percent this year.
In his address at the conference, Premier Li said the countries “should cooperate closely, reject inter-bloc confrontation, oppose segregation and severance, maintain the stability and smoothness of industrial and supply chains, and promote the liberalization and facilitation of trade and investment.”
“We cannot slow down the pace of the green transition at the expense of short-term economic growth, nor can we practice protectionism in the name of green development and environmental protection,” he said.
China faces backlash over electric vehicles The surge in exports has some governments worried the market will become saturated and hurt domestic producers. The European Union, Canada and others have Considering additional taxes on Chinese-made EVs.
China and the EU on the weekend Discussions on provisional tariffs After Beijing last week Anti-dumping investigation into European pork announcedThis is seen primarily as a retaliatory measure against EV tariffs.
The forum, held in the port city of Dalian, was attended by Polish President Andrzej Duda and Vietnamese Prime Minister Pham Minh Chinh, and included business leaders and ministers of economy and technology.
The Chinese economy Annual rate: 5.3% Growth picked up in the January-March period but has slowed sharply in recent days, sending the industry into a tailspin as authorities cracked down on excessive borrowing by property developers and shutdowns and other disruptions caused by the COVID-19 pandemic exacerbated a long-term slowdown in growth.
Li likened China’s post-COVID-19 economy to a person recovering from a serious illness and needing to gradually readapt. Beijing is aiding the recovery with measures such as upgrading industries and supporting the “silver economy” – businesses catering to the country’s ageing population, he said.
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Associated Press video producer Caroline Chen in Beijing contributed to this report.
