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Zhou Xin

Sarah Zheng

Josephine Ma

Chinese Premier Li Keqiang has finished his press conference to mark the end of the National People’s Congress. 
This year’s congress  resulted in many significant changes, including the constitutional revision to remove presidential term limits, a sweeping plan to restructure the State Council and the appointment of many new figures to top government posts. 
Here are the key takeaways from the two-hour event.
China-US relations
Li called on the United States not to act “emotionally” when asked about the prospect of a trade war between China and America.
“We hope that both parties can maintain reason, not act emotionally, and avoid a trade war,” he said.
He said there would be no winners and to use the word “war” went against the idea of trade, which is based on negotiation, consultation and dialogue.
However, he sidestepped a question about whether China would replace the US as the world’s leading country.


Donald Trump’s administration had previously demanded that the trade surplus between the two nations should be cut by US$100 billion.
Why Xi Jinping’s term limits move makes China-US conflict more likely
When asked about Sino-Russian relations, Li noted that China and Russia saw their decline in trade reversed last year, after noting that President Xi Jinping had extended congratulations to Vladimir Putin for his re-election.
North Korea
Li welcomed all efforts to resolve the nuclear crisis in the Korean peninsula when he was asked about the proposed meeting between the US President and North Korean leader Kim Jong-un in May.
“The peninsula is China’s close neighbourhood and directly concerns China’s own interests, so you can well imagine how much attention we have paid to the situation there,” Li said.




Japan
Li said he was willing to consider a formal visit to Japan amid signs of improving ties between the two nations. But he warned efforts should be made to ensure relations continued to improve.
Are China and Japan on the road to better relations? It’s complicated
Taiwan and Hong Kong
Li reiterated that Beijing will not tolerate the idea of Taiwanese independence and warned “external forces” not to use Taiwan as a bargaining chip against China.
On Hong Kong and Macau, Li emphasised the benefits of a more integrated economy amid Beijing’s push to boost the Greater Bay Area.
Li insisted both Hong Kong and Macau would continue to enjoy a high degree of autonomy, but emphasised they were part of the same country.


Economy
Li said China was capable of forestalling systemic financial risks.
“The fundamentals of the Chinese economy are sound and the financial sector is stable,” Li said.
He also said China had cut its budgeted fiscal deficit because revenues proved stronger than expected.


The Premier also referred to a recent crackdown on tycoons, saying the economy faced some risk in the same way “that a big tree invites winds”. However, he insisted there was enough capital in the banking system.
Another Chinese tycoon starts to sell off assets after Xi Jinping’s call to cut debt risk
Li also promised that China would continue to improve its business environment.
“We will cut the time it takes to open a business in China by another half and we will reduce the time required for reviewing a project application by another half,” he added.
Vice-Premier Liu He set to lead China’s new economic team as government line-up finalised
Welfare and employment
Li said the country now has 241 million people aged 60 or above, around 17.3 per cent of the total population. He said China would continue to work on its pension system to make sure the elderly get their money.
On employment, he said China aims to generate more than 13 million new urban jobs this year, while setting a minimum target of 11 million.

Li said at least three million new rural migrant workers would be seeking jobs in cities this year. “It is the responsibility of the government to provide stable job opportunities for these people,” he continued.
Returning migrants: the Chinese economy’s next great hope
He noted that China has around 280 million rural migrant workers in cities, who have played important roles in the country’s drive towards urbanisation.
He said that 2018 would see a record 8.2 million college graduates and 5 million graduates from secondary vocational schools looking for work along with a million demobilised military personnel and workers affected by efforts to cut overcapacity.
“We must work very hard to ensure there will be jobs for these people, and do our best to avoid zero-employment families,” said Li.
For more details, comments and colour from Beijing, check out our live coverage of Li’s two-hour press conference below. App users, please allow a few seconds for our blogging widget to load.




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China's Two Sessions 2018

Putin, North Korea and a US trade war - Li Keqiang's press conference to close Two Sessions as it unfolded

An elderly Chinese couple chat while sitting on exercise machines at a park in Shanghai on October 24, 2008. Nearly half of all elderly people in China's cities live alone and have inadequate healthcare. An estimated 49.7 percent of city dwellers aged 60 or older lived in "empty nests," according to a survey by the government-run China Elderly Work Committee Office. In the past, care for the elderly was considered a key virtue but greater individualism in recent decades has led to the corrosion of traditional values. AFP PHOTO/Mark RALSTON / AFP PHOTO / MARK RALSTON

Chinese Premier Li Keqiang addresses the press conference at the Great Hall of the People in Beijing. Photo: Simon Song

Key takeaways from Chinese Premier Li Keqiang’s opening speech for the National People’s Congress 2018

Chinese Premier Li Keqiang delivers his annual government work report at the opening meeting of the first session of the 13th National People's Congress at the Great Hall of the People in Beijing on Monday. Photo: Reuters

(180305) -- BEIJING, March 5, 2018 (Xinhua) -- Chinese Premier Li Keqiang delivers a government work report at the opening meeting of the first session of the 13th National People's Congress at the Great Hall of the People in Beijing, capital of China, March 5, 2018.  (Xinhua/Ju Peng)

Six key points from Xi Jinping’s speech wrapping up China’s national congress

Chinese President Xi Jinping makes his closing address at the National People’s Congress. Photo: AP

Delegates applaud the results of a vote during a plenary session of the Chinese People's Political Consultative Conference at the Great Hall of the People in Beijing, Wednesday, March 14, 2018. (AP Photo/Mark Schiefelbein)

A military honour guard holds a Taiwanese national flag as he attending flag-raising ceremony at Chiang Kai-shek Memorial Hall, in Taipei, Taiwan March 16, 2018. REUTERS/Tyrone Siu

An usher closes the curtain before the start of the fifth plenary session of the National People's Congress (NPC) at the Great Hall of the People in Beijing, China March 17, 2018. REUTERS/Thomas Peter