China Premier Li seeks to bolster his country's economic outlook at Shanghai trade fair

Australia’s Prime Minister Anthony Albanese speaks during the China International Import Expo opening session in Shanghai, China, Sunday, Nov. 5, 2023. Albanese will hold talks in China with President Xi Jinping in the first visit to the Asian nation by a sitting prime minister since 2016. China’s Premier Li Qiang speaks during the China International Import Expo opening session in Shanghai, China, Sunday, Nov. 5, 2023.

The Chinese government has adopted various policies to help the economy; raising spending on building ports and other infrastructure, cutting interest rates and easing curbs on home-buying. But economists say wider reforms are needed to address long-term problems that are stifling growth.

Foreign businesses have complained of a worsening investment environment in China, particularly with the passage of new legislation that could deem the possession of standard economic forecasts as being a form of espionage. American businesses have said current conditions make it almost impossible to invest in China without taking on significant risks.

From the outset of his prime ministership, Albanese had demanded that China immediately lift what he described as “unjustified” official and unofficial trade barriers costing Australian exporters 20 billion Australian dollars a year.

Source: News Formal (newsformal.com)

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