China’s new premier seeks to reassure private sector as parliament wraps up

China’s new premier seeks to reassure private sector as parliament wraps up

Li, the former Communist Party chief of Shanghai, was installed as premier on Saturday during the annual session of China’s parliament and is tasked with reviving the world’s second-largest economy after three years of COVID curbs.

Making his public debut in a media conference, the close ally of President Xi Jinping said China will take measures to boost jobs and urged officials at all levels to “make friends” with entrepreneurs.

“Developing the economy is the fundamental solution for creating jobs,” Li, 63, said in the Great Hall of the People in central Beijing after the closing of the parliamentary session.

Li faces challenges including weak confidence among consumers and private industry, sluggish demand for exports and worsening relations with the United States.

A career bureaucrat in some of China’s most economically vibrant regions, Li talked up his track record with the private sector, which has been rattled in recent years by a…
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