Economics, business, Hong Kong’s future as China’s Premier, Li Keqiang, sees it

BEIJING - The following are main takeaway quotes from Chinese Premier Li Keqiang in his annual press conference on the conclusion of China’s National People’s Congress and the Chinese People’s Political Consultative Conference, or Liang Hui:

Macro-Economy: “We are full of confidence in the long-term good prospects of the Chinese economy…As long as we stick to reform and opening up, China’s economy will not see a hard landing…China’s economy will still face small and short-term swings, but if growth falls out of a reasonable range, we have innovative macro tools to maintain stability of growth.”

Reducing Overcapacity: “We will press ahead to reduce capacity, but we must ensure that the rice bowls of workers are still there, or we must give them new rice bowls.” Li adds the central government has already set aside RMB 100 billion to help laid-off workers, and ready to boost the fund if necessary.

Business Reforms: “The government will further streamline administration, improve government efficiency and generate businesses’ enthusiasm…However, streamlining administration doesn’t mean there should be no supervision. The supervision to ensure fair competition must be retained.”

Diplomatic Ties: “China will remain committed to the path of peaceful development and will not waiver in its resolve to uphold its sovereignty and territorial integrity. And it is not in conflict.”

Hong Kong: “The central government will give full support to any proposals from the SAR government that help maintain Hong Kong’s long-term prosperity and stability and contribute to the well-being of the people of Hong Kong. I have confidence in a bright future for Hong Kong.”

Public medical insurance: In two years, public medical insurance will foot hospital in-patient service bills that are incurred in places other than the patient’s household registration province. “Real-time public medical insurance settlement is a reasonable demand and it should not hurt residents.”

Agriculture: Investment in agriculture – “always a disadvantaged sector” – will not decrease. “The key is to better balance urbanization and modernization of agriculture, to let more farmers go to urban areas and stay if they’re qualified…this will provide more space for large-scale agricultural operations and improve farmers’ income.”

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