“We will promote development through expanding, opening up”, Li said in a speech to the annual United Nations General Assembly.
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Referring to negotiations over a US-China Bilateral Investment Treaty that are lengthy given disagreements over access to sectors both sides deem sensitive, Li said that as long as both countries took a strong and pragmatic approach, they would be able to reach a mutually beneficial agreement.
Li Keqiang, Premier of the State Council of the People’s Republic of China, addresses the 71st session of the U.N. General Assembly.
On Monday, Chinese Premier Li Keqiang said on a meeting with the United Nations on refugees and migrants that China will be providing $100 million worth of humanitarian aid to countries and global organizations to assist in resolving the severe problem on refugee and migrant crisis and develop means to add support measures.
Trump has threatened to slap a 45 percent tariffs on Chinese goods, promised to label the country a currency manipulator and “reclaim millions of American jobs and revive American manufacturing by putting an end to China’s illegal export subsidies”.
“They have been proved effective and must be safeguarded with resolve”, he said.
As an example of China’s willingness to open up its markets, Li said China had made a decision to designate a Chinese investment bank as a clearing bank for yuan business in NY and welcomed banks in the city which met eligibility requirements to become clearing banks for the currency.
Li said there were many reasons for the slowdown and that the government was restructuring the economy to sustain growth and encourage entrepreneurs.
On behalf of the Chinese government, Li released the country’s national plan for the implementation of the 2030 Agenda at the UN Headquarters in NY on Monday when he chaired a roundtable on SDGs.
He did not name the bank, but also said foreign banks in the city that met the eligibility requirements are welcome to become clearing banks for the currency.
For his part, Obama said economic relations are the stabilizing factor of US-China ties.
“Under the banner of peace, development, cooperation, and win-for-all, China adamantly supports the multilateral cooperative work of the United Nations, and helps push its work in various fields to move forward”, the Chinese diplomat said. According to the Society for Worldwide Interbank Financial Telecommunication, Hong Kong is the biggest off-shore renminbi clearing center, followed by London and Singapore. We need to expand common ground while shelving differences’.
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The Chinese premier also cited increased investment by U.S. enterprises in China.
