See More on Facebook

Business, Economics

Li pledges to improve business climate

Li Keqiang says China taking steps to open up economy to foreign businesses Premier Li Keqiang reaffirmed China’s commitment to improving its business environment by deepening reforms to streamline administration and carrying out large-scale tax cuts and fee reductions.


Written by

Updated: June 12, 2019

Li Keqiang says China taking steps to open up economy to foreign businesses

Premier Li Keqiang reaffirmed China’s commitment to improving its business environment by deepening reforms to streamline administration and carrying out large-scale tax cuts and fee reductions.

Li said in a meeting on Tuesday with World Bank President David Malpass that the country will bring its business environment more in line with market principles, international standards and the rule of law as part of efforts to promote high-quality development.

He noted China’s cooperation with the World Bank, which is in keeping with its steps in reform and opening-up and benefited the country’s growth. The global landscape is complex and fluid, and the Chinese economy is facing various risks and challenges, he said.

Further cooperation between China and the World Bank will help promote poverty reduction, narrow the gap between developed and developing countries and enable sustainable development, he said.

As a participant in, architect of and contributor to the current international economic and financial system, China stands ready to deepen cooperation with the World Bank and jointly promote global development and prosperity, he said.

China, the world’s largest developing country, is willing to fulfill its due international responsibilities and obligations while ensuring its own development, he added.

Li also urged China and the World Bank to deepen their cooperative partnership, jointly send out a positive signal of adhering to globalization and push forward global development and prosperity.

Malpass, who was selected as the 13th President of the World Bank Group in April, lauded China’s achievements in economic growth.

He said that the Chinese premier has been personally involved in the innovation side of the Chinese economy as well as environmental improvements. “We look forward to working with you on developing the issues, both in China and globally,” he said.

The World Bank recognized China’s efforts in improving its business environment last year in its annual Doing Business 2019 report, in which China rose to a global ranking of 46 among 190 economies, up from 78 the previous year. The report, released in November, said China’s reforms in areas including cutting administrative red-tape earned the country a spot in this year’s top 10 global most-improved.

Malpass also met with Yi Gang, governor of the People’s Bank of China, the country’s central bank, on Tuesday.



Enjoyed this story? Share it.


About the Author: ANN’s Board member Ms Esther Ng, Malaysia’s The Star’s Chief Content Officer, has been bestowed the 2019 Asian Women Entrepreneurs Leadership Award in the Media and Communications category.

Eastern Briefings

All you need to know about Asia


Our Eastern Briefings Newsletter presents curated stories from 22 Asian newspapers from South, Southeast and Northeast Asia.

Sign up and stay updated with the latest news.



By providing us with your email address, you agree to our Privacy Policy and Terms of Service.

View Today's Newsletter Here

Business, Economics

Internet healthcare serving homebound patients in China

Online consultations, pharmaceutical deliveries play vital role during outbreak. One recent rainy day, Wu Hong was waiting at the gate of her residential community in Wuhan, Hubei province. When a deliveryman with a bag of medicine came into sight, she was greatly relieved. Wu’s mother-in-law is a breast-cancer patient and needs to take medicine regularly. Wu’s father suffers from chronic obstructive pulmonary disease, and inhalers have been in short supply. As the novel coronavirus epidemic grew more serious, Wu wasn’t permitted to take her family to the hospital for drug refills. She was left in a state of restless anxiety. On Feb 26, Wu and her husband saw a news segment on TV saying that the Wuhan government had enabled online reimbursement se


By China Daily
March 13, 2020

Business, Economics

India’s Congress suffers setback after key leader defects to BJP

Move by Scindia and 22 legislators could trigger fall of Congress-led govt in central Madhya Pradesh state. The Congress has suffered a political setback following the resignation of Mr Jyotiraditya Scindia and 22 legislators in Madhya Pradesh state, deepening an existential crisis for a party that is struggling for political relevance in modern Indian politics. Mr Scindia, 49, an articulate leader, yesterday joined Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP), with legislators loyal to him expected to follow suit. The move could lead to the collapse of the Congress-led Madhya Pradesh government. That would give the BJP a chance to form the government in the Hindi heartland state, which is seen as key objective for


By The Straits Times
March 12, 2020

Business, Economics

Chinese Red Cross teams aid Iran’s COVID-19 fight

Humanitarian group to help Iranians with containment measures that worked in China. Voices on the other end of the line cut in and out due to a poor phone connection as officials at the Red Cross Society of China’s headquarters in Beijing attempted to talk to staff members on the ground in Iran on Tuesday morning. As the signal stabilised, the latest developments in controlling the novel coronavirus pneumonia epidemic in Teheran streamed into a conference room packed with Red Cross managers. Zhou Xiaohang, head of a five-member team-four medics and a Farsi interpreter sent to assist with COVID-19 control in Iran-said Iranians are increasingly taking precautions such as wearing face masks and washing their hands more often.


By China Daily
March 11, 2020

Business, Economics

Shortage of Masks, Handwash due to panic- buying: Leave some for everyone

Despite repeated calls by global and local health experts and warnings from government, panic-buying grips the country. Global health experts have warned against hoarding masks, handwash and sanitisers during the coronavirus outbreak as it could worsen the situation by depriving those who might need them. Despite this, panic-buying of these products in Dhaka has been triggered by news of the first confirmed coronavirus cases in the country. Across the capital, several pharmacies and superstores have been facing a shortage of masks, antiseptic liquids and sanitisers since Sunday afternoon. The demand for tissue papers has also almost doubled overnight, some retailers claimed. Many of the retail stores, super shops and pharmacies in Karwan Bazar, M


By Daily Star
March 10, 2020

Business, Economics

MH17 trial in Malaysia begins today

It was reported that MH17 was shot down by a BUK missile while flying over the conflict-hit eastern Ukraine. The trial will begin today. All eyes will be on the District Court of The Hague at the Schiphol Judicial Complex (JCS) in Badhoevedorp as the criminal proceeding against four men accused of shooting down Malaysia Airlines Flight MH17 begins. It was reported that MH17 was shot down by a BUK missile while flying over the conflict-hit eastern Ukraine. All 298 people on board, comprising 43 Malaysians, 193 Dutch nationals and 27 Australians, were killed. Members of the Malaysian media here to cover the start of the trial were given a briefing by press secretary for the judge, Yolande Wijnnobel, on what to expect at the start of the much-awai


By The Star
March 9, 2020

Business, Economics

OPINION: ‘Righteous’ women

So who is this ‘righteous’ woman that would never dare join Aurat Marchers? ‘TIS the season to be righteous, or so many prominent Pakistanis on TV and social media along with the religious right would have us believe. Pakistan suffers from hypocritical moral policing at the best of times — in homes, colleges and universities, places of religious worship, and the workplace — but the trigger for the current frenzy is the impending Aurat Marches in many cities of the country. Given that these marches only began three years ago, one can only marvel at how rapidly they have gotten under the proverbial skin of their highly agitated opponents. Enough has been said and written about the wider context of the marches and why they threaten the


By ANN Members
March 6, 2020