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China’s economic growth this year could exceed a target of “above 6%,” with the government seeking stable expansion and job creation, Premier Li Keqiang said Monday in a meeting with foreign business executives.
“We need to seek a balance between growth, income, and employment, and we cannot pursue economic growth based on high energy consumption and heavy pollution,” Li said, according to a statement from the State Council. China needs growth in employment and income, and will have to work more on boosting domestic demand and consumption, he said.
The meeting was held by videochat at the conclusion of the China Development Forum over the weekend, a high-level conference organized by the government that included international speakers like Tesla Inc.’s Elon Musk, Bridgewater Associates LP’s Ray Dalio and Credit Suisse Group AG’s Thomas Gottstein.
Li’s comments came just days after the first talks between officials from China and the new U.S. administration in Alaska, with both sides criticizing each other over everything from trade to human rights. Tensions increased Monday with the U.S., U.K., Canada and the European Union imposing sanctions on China over alleged rights abuses against the Uyghurs in Xinjiang, drawing an immediate retaliation from Beijing.
Source: Bloomberg
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