Premier Li Keqiang meets the press

Premier Li Keqiang met the press at the Great Hall of the People in Beijing after the conclusion of the national legislature’s annual session on Tuesday.

Chinese Premier Li Keqiang answers questions at a press conference after the conclusion of the first session of the 13th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 20, 2018. (Xinhua/Xing Guangli)

Premier Li pledges wider opening of Chinese market

BEIJING, March 20 (Xinhua) -- China will open even wider to the rest of the world, Chinese Premier Li Keqiang said Tuesday, stressing opening up is a two-way movement.

Chinese economy is so integrated into the global economy that closing the doors would only block China's own way, he said at a press conference after the conclusion of the annual legislative session.

Li said China still has much room for further opening up its market and will lower overall tariffs on imports. Tariffs on popular consumer goods, including drugs, will be slashed, while the much-needed anti-cancer drugs might phase in zero tariffs.

Despite a deficit in service trade, China will increase efforts in relaxing control over market access to the service sector, including old-age care, medical care, education and financial services, according to him.

China will gradually relax and even scrap foreign-owned equity limits in some sectors and shorten the negative list for foreign investment, Li added.

No compulsory technology transfers will be imposed on foreign investment in the general manufacturing sector and intellectual property rights will be protected, he said.

"We aim to make the vast Chinese market a fair place for both domestic and overseas firms with all kinds of ownerships to compete to offer more options for about 1.3 billion Chinese consumers, expediting upgrading of Chinese products and services," Li said.

Li said China's opening-up is a gradual process and should be perceived in a long-term and holistic view, as some seemingly minor reform steps might produce impressive dividends later, citing China's booming overseas tourism market thanks to streamlined private visa application procedures.

"Like rowing a boat, opening up is a two-way movement entailing mutual efforts," Li added.

No winner in China-U.S. trade war: Premier Li

BEIJING, March 20 (Xinhua) -- There will be no winner in a trade war should it happen between China and the United States, Premier Li Keqiang said at a press conference after the conclusion of the annual legislative session.

Premier Li pledges "utmost efforts" to maintain stability in Korean Peninsula

BEIJING, March 20 (Xinhua) -- Chinese Premier Li Keqiang said Tuesday that China will make utmost efforts to facilitate denuclearization and peace and stability in the Korean Peninsula.

Li made the remarks at a press conference after the conclusion of the annual session of China's top legislature.

China pursues peaceful development: premier

BEIJING, March 20 (Xinhua) -- Premier Li Keqiang said on Tuesday that China pursues peaceful development and will never seek expansion.

It is a misinterpretation to see China's cooperation with other countries and its assistance to underdeveloped ones as strategic expansion, Li told a press conference following the conclusion of the annual legislative session.

"We will focus on managing our own affairs well," he said.