What You Need to Know From China’s National People’s Congress

Premier Li Keqiang outlined China's economic priorities, focusing on fiscal support and tax cuts, particularly for the private sector, while avoiding flooding the economy with liquidity. He emphasized targeted measures like reserve ratio cuts for banks. Amidst fragile economic data and ongoing trade tensions with the US, China introduced a new foreign investment law to level the playing field for foreign businesses. However, the business community remains cautious about its implementation and effectiveness in addressing US concerns.

What were the priorities outlined by Premier Li Keqiang for shoring up the economy?

How much are the tax cuts worth that were announced by Premier Li Keqiang?

What is the significance of the new foreign investment law mentioned in the text?

What concerns did the American Chamber of Commerce express regarding the new foreign investment law?

What complexities might arise from the contracts of joint ventures between foreign businesses and their Chinese counterparts?