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Chinese Premier Says China Doesn't Want A Trade War With The US

USS Nimitz conducts an aerial demonstration. Flickr  U.S. Navy

Speaking at his once-a-year press conference, at the end of the annual session of the National People's Conference, Li said, "A trade war would not make our trade fairer". Premier Li answered questions on various topics such as the economy, financial reforms and diplomacy.

Chinese Premier Li Keqiang has dangled the prospect of more perks for Hong Kong and Taiwan even as he made clear that Beijing would not tolerate any breakaway moves.

Last year, China attracted US$126 billion in foreign direct investment, remaining the largest recipient among developing countries, figures showed.

In a phone call with Chinese President Xi Jinping in February, however, Trump reaffirmed America's recognition of a single, unified China.

China lays claim to nearly all of the resource-rich South China Sea, through which about $5 trillion worth of trade passes each year.

"We may have different statistical methods, but I believe whatever differences we may have we can all sit down and talk to each other and work together to find solutions", Li further adds.

He said on Wednesday that achieving the 2016 target "will not be easy", and warned that China faced a plethora of financial risks at home.

" We are fully aware of potential risks and we will take prompt and targeted measures to prevent them from spreading". Beijing lowered its economic growth target for 2017 to about 6.5%, from last year's range of 6.5% to 7%. He also denied the economy was in for a hard landing and threw his support behind a united Europe.

At first glance, the Asian giant's statements on Chinese trade relations with the USA and the world seem to be counterintuitive. "China has no intention to overreach itself". China would also strengthen its macro economy, which would assist in sustaining its growth in general, boosting operating industries, and businesses.

"We believe this will help Hong Kong maintain its status as an global financial centre and provide Hong Kong investors more options". China reported its 2015 GDP increase to be the lowest in over 20 years. The capital ratio of commercial banks in China is 13 per cent, the regional corporate ratio is about 176 percent, both above the worldwide standards of financial security.

China has ample foreign exchange reserves to satisfy the demands of imports and short-term debt repayments.

"Thanks to the initiative of massive entrepreneurship and innovation, many jobs have been created, while traditional drivers of growth have been upgraded, which is also generating job opportunities".