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

10 dead in Delhi in violent protests against controversial citizenship law, in the midst of Trump’s visit

Witnesses said Delhi police, who were outnumbered, did little to stop the violence, mostly standing by while groups pelted each other with stones, and vandalised vehicles and property. At least 10 people, including a cop, have been killed in India’s capital city Delhi since Monday (Feb 24), in a worrying outbreak of communal violence between those protesting a controversial citizenship law and groups who oppose them. The violence, marked by arson and stone pelting, continued on Tuesday less than 20km from where Prime Minister Narendra Modi and US President Donald Trump were holding talks. Even journalists reporting on the spot were attacked and forced to delete pictures and footage. More than 100 people have been injured, accordin


By The Straits Times
February 27, 2020

Business, Economics

Malaysia political turmoil: Search for new government continues as King meets 132 MPs in second day of interviews

The unprecedented move for the King to interview MPs individually instead of meeting party leaders appears to be in line with Dr Mahathir’s plan to form a grand coalition across the political spectrum. The Yang di-Pertuan Agong continues the search for Malaysia’s new government on Wednesday (Feb 26) by interviewing 132 MPs to see whether they back interim premier Mahathir Mohamad to continue leading the country. This will complete interviews of all 222 parliamentarians after those from the opposition were asked on Tuesday who they wanted as prime minister, or if they preferred a snap election. Those heading to the palace on Wednesday are from the now collapsed Pakatan Harapan (PH) government. The Straits Times understands that those still in


By The Straits Times
February 26, 2020

Business, Economics

Mahathir made caretaker PM after Malaysia’s King accepts his resignation

After his resignation, the ruling Pakatan Harapan (PH) coalition saw the departure of dozens of lawmakers that left it short of a majority in Parliament. Just hours after submitting his resignation to Malaysia’s King on Monday (Feb 24), Tun Dr Mahathir Mohamad was made caretaker Prime Minister. The King accepted Tun Dr Mahathir’s resignation, but appointed him interim Prime Minister, Chief Secretary to the government Mohd Zuki Ali said in a statement. Dr Mahathir will continue to run the country’s administration until a new prime minister and Cabinet are appointed, he added. All ministerial appointments were also cancelled with effect from Monday as a result of the prime minister’s resignation, the chief secretary said in a separate state


By The Straits Times
February 25, 2020

Business, Economics

Vietnamese advised to avoid travel to coronavirus-hit areas in South Korea, flights not banned yet

The Consular Department under the Ministry of Foreign Affairs and the Vietnamese Embassy in South Korea has recommended Vietnamese citizens to avoid travel to areas affected by the novel coronavirus (COVID-19) and places vulnerable to the disease. The warning was made given the complex development of the COVID-19 in the RoK. Vietnamese citizens were also advised to keep a close watch and follow instructions of local agencies to prevent the illness. The Ministry of Foreign Affairs has asked the Vietnamese Embassy in the RoK to work with local agencies to learn more about the situation, keep in touch with Vietnamese citizens in the country, establish a hotline and be ready to take protection measures when necessary. According to the embassy, as o


By Viet Nam News
February 24, 2020

Business, Economics

Singdollar declines to near 3-year low on coronavirus fears

 Fall comes amid Asia-wide forex sell-off after South Korea infection spike, two deaths in Japan. The Singapore dollar fell along with most Asian currencies on concerns over the coronavirus outbreak. The local currency fell to its lowest level against the United States dollar since May 2017 at one point yesterday, before recouping some of the losses. It slid about 1 per cent to as low as S$1.4083 to the greenback, before paring losses to trade 0.3 per cent lower. South Korea’s won sank more than 1 per cent to 1,201.95 to the dollar. The baht, the most sensitive in Asia to tourism, dropped 0.7 per cent to 31.406 to the dollar. The sell-off in the region’s foreign exchange (FX) markets followed a spike in confirmed infections in South


By The Straits Times
February 21, 2020

Business, Economics

China revokes press cards of 3 WSJ journalists in Beijing

According to Chinese Foreign Ministry spokesperson Geng Shuang, the press cards of three Wall Street Journal journalists who are based in Beijing will be revoked from Wednesday. The press cards of three Wall Street Journal journalists who are based in Beijing will be revoked from Wednesday, according to Chinese Foreign Ministry spokesperson Geng Shuang. “The Chinese people do not welcome media that use racially discriminatory languages and maliciously slander and attack China,” Geng told an online press briefing Wednesday. On Feb 3, the Wall Street Journal published an article titled “China Is the Real Sick Man of Asia” by Professor Walter Russell Mead of the Bard College, which smeared the efforts of the Chinese government and p


By China Daily
February 20, 2020