However, the premier voiced confidence in attaining the economic and social development goals for this year and maintaining major economic indicators within an appropriate range. Li underscored the importance of unleashing the potential of domestic consumption and adopting more steps to open up the manufacturing and service sector.
Hu Weiwu, president of Loongson Technology Corp, said Chinese companies have now mastered some core technologies, and its efforts to develop homegrown IT technologies are now shifting to building an ecosystem in which more players are involved to use indigenous technologies and services.
However, it stressed that those who use bribes to "prey" on state officials and cause major losses to the interests of the country and the people will be strictly punished.
However, nation-wide goals require national rule of law that trumps the discretion of local officials. For example, spreading prosperity to the country's western and rural regions is an important national goal. And, companies and individuals need a consistent bureaucratic and legal system throughout the country. One key element of the rule of law is that local officials are more tightly monitored to ensure compliance with the law.
However, the people-to-people and cultural exchanges these facilitate are often considered as afterthoughts. Yet they are of tremendous value - value that is often underestimated.
However, insiders have doubts on startups paying high prices for the qualification. The follow-up investment in the technology research and development as well as the plant upgrades and renovation are also costly, they said.
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Hua Chunying responded that it is extremely irresponsible and dangerous if US policies are based only on possibilities.
However, one recent headline was truly inspiring. More than 300 Chinese fan groups have joined forces to raise funds to obtain surgical masks, protective suits and other vital supplies to donate to medical professionals in Wuhan, Hubei province, the epicenter of the novel coronavirus outbreak.
However, the gross weight of containerized cargo by land dropped by 12.1 percent year-on-year to 3,126 tonnes in the first quarter of 2018. The gross weight of seaborne containerized cargo also fell by 11.5 percent year-on-year to 38,279 tonnes in the first quarter.
Hu said the rebalancing process of the Chinese economy is expected to continue, with consumption supposed to take a greater share of economic growth in the coming years.