Chinese Leaders, “More Imports, Less Financial Risk”
Chinese leaders have promised to increase imports and reduce risks in their financial system following an annual planning meeting amid slowing economic growth and pressure from trading partners to open their markets wider.
The 3-day meeting that ended Wednesday is a throwback to China’s era of central planning, but plays an important role in setting development goals for the state-dominated economy.
China’s official news agency reported a statement issued following the meeting pledged to rein in financial risks, control pollution, cut import tariffs and increase imports.
They also promised to trim surplus production capacity in industries in which supply exceeds demand.