Equal treatment will be given to all types of companies, the former Communist Party chief of Shanghai says
Chinese Premier Li Qiang at a news conference after the closing session of the National People’s Congress, at the Great Hall of the People, in Beijing, China, on March 13. Picture: FLORENCE LO/REUTERS
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. 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 sweeping regulatory clampdown targeting industries including internet platforms and private education.
Investors hope the new premier’s close ties with Xi enable him to push for more business-friendly policies. Xi was speaking for the first time since the National People’s Congress, China’s parliament, unanimously voted to confirm him in a precedent-breaking third term as China’s president. Xi said China will distribute the fruits of development more equitably, in an effort towards “common prosperity”, his signature policy of reducing the wealth gap by ways such as asking private firms to pitch in.
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