ICYMI: China’s Premier Li said fiscal expenditure will reach a record high this year

China’s Premier Li Qiang was speaking at the ASEAN – Gulf
Cooperation Council (GCC) – China Economic Forum official dinner on
the sidelines of the 46th Association of Southeast Asian Nations
(ASEAN) Summit in Kuala Lumpur, Malaysia.

Notably, Li said that

• fiscal outlays in China will reach a record high this year

• the government is directing more policy resources towards consumption to
  boost demand

Li had some comments on Trump’s trade war:

• “Facing rising protectionism and unilateralism in some places of
  the world, we must be committed to expanding opening up and removing
  barriers”
• “Economic
  globalisation is currently experiencing an unprecedented major
  impact”
• Li urges upholding a multilateral
  trading system with the World Trade Organization at its core

• said China’s economy has continued to recover and improve since the
  beginning of the year, and that Chinese exports have remained
  “resilient despite external pressure”.

Info via Reuters report ICYMI.

This article was written by Eamonn Sheridan at www.forexlive.com.