China fully confident in achieving 2018 economic targets: Premier Li

Chinese President Xi Jinping left shakes hands with Premier Li Keqiang after Li was re-elected as Premier during a plenary meeting of China's National People's Congress at the Great Hall of the People in Beijing

Chinese President Xi Jinping left shakes hands with Premier Li Keqiang after Li was re-elected as Premier during a plenary meeting of China's National People's Congress at the Great Hall of the People in Beijing

CHINESE Prime Minister Li Keqiang today called on the USA not to act "emotionally" and to avoid a trade war, as President Donald Trump considers new punitive measures against Beijing.

Li made the revelation while mentioning improving relations with Japan at a news conference after the close of the National People's Congress session.

After announcing tariffs on global steel and aluminium imports, Trump is now mulling new actions against China over its "theft" of United States intellectual property.

"We have more revenue than expenditure".

Using "war" in the context of trade goes against its basic rules, which are based on negotiation, consultation and dialogue, Mr Li told reporters after the end of the annual parliamentary session.

"A large trade deficit is not something we want to see", he said.

"We must further cut the red tape and simplify administrative procedures", he said.

Beijing faces mounting pressure from the government of U.S. President Donald Trump over complaints it hampers access to its markets, pressures foreign companies to hand over technology and is flooding foreign markets with unfairly low-cost steel and other goods.

Skiers flung off ski lift at Georgian resort
The 32-year-old, who was there with friends, said they jumped and once on the ground took video of other people jumping to safety. Eyewitness also posted photos and footage of the aftermath of the ski lift's malfunction , and the wreckage that it produced.

Chinese trade officials said earlier that Beijing was ready to respond, though they gave no details.

Asked whether Beijing might use its large holdings of USA government debt as leverage in a dispute, the premier said China's investments are based on market principles and "China will remain a responsible long-term investor".

According to media reports, Mr Trump is set to announce this week a package of US$60 billion (S$79 billion) in annual tariffs on Chinese technology and consumer goods to punish China for intellectual property infringement.

Beijing plans to "further bring down overall tariffs", with "zero tariffs for drugs, especially much-needed anti-cancer drugs", the premier said. He said Beijing will make it easier to start a business and will open more industries to foreign and private competition.

China is capable of forestalling systemic financial risks, Li said here ruling out the possibility of such risks in the country.

He is determined to bring down the USA trade deficit with China, which reached $375 billion past year.

Li also vowed better protection for intellectual property rights and said there would be "no mandatory requirements for technology transfer", a key complaint from foreign investors in the past.

The government has yet to say how that might change conditions for automakers and other manufacturers that are required to work through Chinese partners, which requires them to share technology with potential competitors.

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