Liquor Chang, "Willing to Mediate Peace Between Russia and Ukraine" (Comprehensive)

At the Closing Press Conference of the National People's Congress, Maintaining Existing Positions on US-China and Taiwan Issues
Among Large-Scale Investment, Consumption Coupons, and Tax Cuts, Tax Cuts Are the Most Effective

[Asia Economy Beijing=Special Correspondent Jo Young-shin] Premier Li Keqiang of China stated his willingness to play an active role in restoring peace between Russia and Ukraine. He also expressed hope that the increasingly intense U.S.-China conflict would involve mutual respect for each other's core interests and major concerns, emphasizing that China is willing to cooperate with the United States and pursue long-term benefits.

Photo by Xinhua News Agency Capture

Premier Li made these remarks during a press conference with domestic and international media following the closing of the 13th National People's Congress (NPC) on the 11th, expressing concern over the Ukraine situation.

He said, "China has always pursued independent peace and diplomacy," adding, "According to the United Nations (UN) Charter, the sovereignty and territorial integrity of all countries must be respected, and all countries should seriously address legitimate security concerns."

Premier Li emphasized, "We will do our best to support Russia and Ukraine in overcoming difficulties and achieving peaceful outcomes," and stressed, "To prevent the situation from becoming uncontrollable, not only the parties involved but also the international community must work together." He further stated that China is willing to make constructive efforts to safeguard world peace and stability and promote development and prosperity, reiterating China's intention to support Ukraine on a humanitarian level.

He also addressed U.S.-China relations. He said, "Fifty years ago, China and the United States broke the ice and began the voyage of normalizing relations," noting, "Although the bilateral relationship has experienced ups and downs, it has always moved forward." He reaffirmed the existing stance, saying, "We (China and the U.S.) still hope to respect each other, coexist peacefully, and respect each other's core interests and major concerns."

Regarding the Taiwan issue, he maintained the existing position. Premier Li reiterated the adherence to the "One China" principle and the "1992 Consensus" (an agreement to recognize one China while allowing each side to use its own name), firmly opposing Taiwan independence (separatist) actions. He added, "Taiwan compatriots are family and brothers," and stated that he would join forces with Taiwan compatriots to lead the rejuvenation of the Chinese nation.

He also shared his vision for this year's economic growth target of "5.5% or higher." He emphasized, "The global economy faces new downward pressures and challenges this year," but stressed that China must achieve the 5.5% target this year. He mentioned macro policy support to this end. Premier Li explained that, first, this year, the profits attributable to the central bank, the People's Bank of China, and state-owned enterprises will be used for the fiscal budget.

In fact, the People's Bank of China announced the previous day that it would transfer more than 1 trillion yuan in surplus profits to the central government.

Premier Li explained that these funds would be used to reduce various fees and provide tax refunds to support people's livelihoods. This approach utilizes surplus profits from state-owned enterprises without increasing national debt. He also shared an anecdote related to tax reductions. He said that when he asked businesspeople to choose one of three options to stimulate the economy?large-scale investment, issuance of consumption coupons, or tax reductions and fee cuts?they all chose tax reductions and fee cuts without hesitation. He elaborated that tax reductions and fee cuts are the most direct, fair, and efficient methods.

He also emphasized the importance of employment to achieve this year's economic growth target. He announced plans to create 11 million new jobs this year to keep the urban unemployment rate within 5.5%.

[Image source=Yonhap News]

Premier Li said, "Employment is not only a matter of livelihood but also a matter of development," adding, "China needs more than 11 to 13 million jobs annually." He stated that if employment issues are resolved, China’s economy can achieve its target growth rate. It is known that China’s employment effect is about 2.1 to 2.2 million jobs per 1% of GDP.

Premier Li noted that there are 300 million rural migrant workers seeking employment opportunities in China and that the employment of veterans must also be guaranteed, pledging to meet this year’s employment goals.

Regarding the current Xi Jinping leadership ahead of the 20th Party Congress this fall, Premier Li recalled, "Since the current government took office, the international situation has changed moment by moment and has been complex," and said, "Over the years, we (the Chinese leadership) have continuously and consistently innovated." He added, "The situation we face remains complex and severe, with many difficulties and challenges," and pledged to achieve the main goals of economic and social development this year to lay a solid foundation for future development.

This content was produced with the assistance of AI translation services.