Monday, 06 March 2017 07:23

China targets more international trade

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Daily Mail Newspaper

06th March 2017, Page 2

By CHOMBA MUSIKA, Beijing

CHINA’s National People’s Congress (NPC), the world’s largest parliamentary body, has assured that the Asian country will continue to promote economic globalisation and enhance international trade in the year 2017.

And to help reduce poverty, the NPC says China will merge and strengthen rural development funds and devise new mechanisms for coordinating poverty eradication efforts in poor countries.

This came to light yesterday when NPC Premier of the State Council Li Keqiang presented a report on the work of the government at the opening of the fifth annual session of the 12th NPC of the People’s Republic of China held at the Great Hall of the People.

The NPC, which has a membership of over 2,000, is China’s legislature structured with the power to legislate, oversee the operations of the government and elect the major officers of the state.

The NPC and the National Committee of the People’s Political Consultative Conference (CPPCC), a consultative body whose members represent various social groups, are the main deliberative bodies of China, and are often referred to as the Lianghui (two sessions).

The NPC’s sessions are usually held on the sidelines of those of the CPPCC, a platform that provides an opportunity for the officers of state to review past policies and present future plans to the nation.

This year’s sessions are being held from March 3 to 16.

In his report, Mr Yu said among its major areas of work in 2017, China would promote liberalisation and facilitation of international trade investment.

“China will not shift in its commitment to promoting global economic cooperation, uphold the multi-lateral trading regime as the main channel of international trade,” he said.

Mr Yu said the nation’s economy had registered a slower but stable performance with a good momentum for growth.

He said gross domestic product (GDP) reached 74.4 trillion yuan last year, representing 6.7 percent growth and contributed to over 30 percent of global growth, and projected the GDP growth is around 6.5 percent with over a million urban jobs anticipated to be created.

And to help reduce poverty, Mr Yu said China will merge and strengthen rural development funds and devise new mechanisms for coordinating poverty eradication efforts in poor countries.

“In poor nations, different rural development funds will be merged and oversight over funds and projects will be strengthened,” he said.

China’s non-financial direct investment to Zambia stands at over US$3 billion, ranking as the second highest in Africa, according to the Chinese Embassy in Zambia.

 

 

 

 

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