China promises to boost economic growth by 2020

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BEIJING – China’s leaders promise to boost economic growth next year, even with the current trade war with the US, as well as reducing poverty and pollution.

Communist Party leaders, in a statement issued Friday, pledged at an annual planning meeting to promote technology-based development and competition, further opening up the state-dominated economy.

The Annual Economic Work Meeting, which ended on Thursday, sets general goals for next year. Companies and investors generally need to wait for China’s ceremonial legislature meeting in March for more details, the Associated Press news agency reports.

Communist leaders are in the midst of a battle to steer China into more sustainable, albeit slower, growth based on domestic consumption rather than trade and investment. His plans were challenged by the trade war with Washington and by an unexpectedly sharp drop in demand from Chinese consumers.

Economic growth fell to 6% in the quarter ending September. It is a historic low compared to previous years.

Friday’s statement promised to fight “three big battles”: poverty, pollution and financial risk. It is said that the ruling party “will ensure reasonable growth” “in the economy and “stable growth” in trade.

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The text made no direct mention of the trade war with the United States , but said China faces “growing risks and challenges at home and abroad.”

Meanwhile, China’s Foreign Minister Wang Yi urged US diplomats to “calm down” and take a “rational” approach to diplomacy with Beijing amid attempts to resolve the current trade crisis between the two nations.

The Chinese Chancellor pointed out at an event held in Beijing on Friday that US policies only served to “damage hard-earned confidence” and “defame” China by urging Washington “to correct its view of world”.

Still to be dealt with, “serious problems” continue to challenge US-China relations, said Wang Yi, who added that the US view of China and the world has been “inappropriate.”

US lawmakers and senators have passed a series of resolutions in recent months against China, including the “human rights and democracy” law in Hong Kong, as well as a bill condemning alleged rights violations in China’s Xinjiang province. and threatening to impose sanctions against Beijing .

In turn, the Chinese authorities responded harshly to both acts, criticizing them as attempts to interfere in China’s internal affairs.

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