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Friday
July 2018
10:05 PM IST
News Headlines
IOC adds 7 medal events to 2022 Beijing Winter Games program        Indian outplay New Zealand 4-2 in hockey series opener        Samsung, Xiaomi corner 60 pc share of India's smartphone mkt in Q2: Canalys        Indo-Pacific must be free, open and and inclusive region: Swaraj        Indian man shot dead in Canada, two suspects arrested        Trump says looking forward to 'second meeting' with Putin        Mob-lynching cases: Govt asks WhatsApp for solutions beyond labelling forwards        Unidentified 'intruder' killed at Indo-Pak border: official        Oppn, Govt brace for no-trust vote today; BJP confident of win, Cong says issue not just of numbers        Centre Forcing AgustaWestland Middleman To Frame Sonia Gandhi: Congress        We were clinical, says England captain Eoin Morgan        Growth has been solid, hope Olympiad will demonstrate it: Anand        Govt working on another verison of UDAN, says Sinha        Talks on between India, Singapore for cruise tourism: Gadkari        'Not too late to save Brexit': ex-foreign secretary Johnson        Canada: Trudeau set to reshuffle govt ahead of 2019 election        Woman alleges rape by Delhi-based singer        Opposition parties commit to fight against any amendment in RTI Act        Tharoor blames right-wing activists for attacks, demands PM intervention        Women have constitutional right to enter Sabarimala temple: SC        
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International News
Fundamentals of China's economy are sound: Chinese Premier
 
(Beijing, Mar 20, 2018): Playing down global concerns on systemic financial risks being faced by China, Premier Li Keqiang today said the fundamentals of the world's second largest economy are "sound".

China is capable of forestalling systemic financial risks, Li told his annual press conference here ruling out the possibility of such risks in the country.

"The fundamentals of the Chinese economy are sound and the financial sector is stable," Li said in customary press conference at the conclusion of the annual session of China's national legislature.

He also said China aims to generate more than 13 million new urban jobs this year to ensure stable job placement for over eight million fresh graduates this year.

The minimal target is 11 million, but the government will work hard to reach the bigger goal, Li said.

Over the past five years, more than 66 million new urban jobs have been created, Li said, adding that employment has always been an important thing not only for each family, but for governments at all levels.

Li was re-elected for second five-year term by the National People's Congress (NPC) after his candidature was endorsed by President Xi Jinping last week.

Li said at least three million new rural migrant workers will seek jobs in cities in 2018.

"It is the responsibility of the government to provide stable job opportunities for these people," he said.

China has around 280 million rural migrant workers in cities, who have played important roles in the country's urbanisation drive, Li noted.

This year, there will be a record 8.2 million college graduates, five million graduates from secondary vocational schools and nearly one million demobilised military personnel and workers affected by the cut of overcapacity, Li said.

China has downsized 2.3 million strong army by demobilising three lakh troops.

"We must work very hard to ensure there will be jobs for these people, and do our best to avoid zero-employment families," Li said.

Li also said China has the ability to pay pension benefits to over 200 million pensioners in time and in full.

The balance of the country's pension funds stands at 4.1 trillion yuan ( USD 645 billion), he said.

"We have more revenue than expenditure. We also have 1.8 trillion-yuan social security fund as a strategic reserve", he said and announced measures to further improve the government's pension payment ability.

"We should have the confidence in the future," he said. "It is our responsibility... After all, it will be very disappointing if decades of hard work cannot earn one decent retirement," he said.

The state-run Xinhua news agency reported in January that the balance of local government debt stood at a whopping 16.5 trillion yuan (USD 2.6 trillion) by the end of 2017.

But the government played down the risks, saying the debt limit is below the government ceiling of 18.8 trillion yuan.

President Xi Jinping has made tackling financial risk a priority over the next three years while the government has set up the Financial Stability and Development Commission to coordinate efforts to contain a possible crisis.(PTI)


Indian man shot dead in Canada, two suspects arrested
Trump says looking forward to 'second meeting' with Putin
'Not too late to save Brexit': ex-foreign secretary Johnson
Canada: Trudeau set to reshuffle govt ahead of 2019 election
Official: 54 released from Taliban prison in Afghanistan
Putin: US-Russia ties should not be held hostage to Mueller probe
Russia targeted by almost '25 million cyber-attacks' during World Cup: Putin
Afghan official: Taliban kill 7 police in eastern province
Trump and Putin open historic summit
Trump asked me to sue EU over Brexit, says Theresa May
Haiti prime minister resigns after deadly unrest
Former PM Nawaz Sharif, daughter Maryam arrested for corruption in Lahore
After UK-US spats, Trump flies in to turmoil in Britain
Buddha of Swat smiles nearly 11 years after Taliban dynamited it
Turkey jails mine bosses over 2014 disaster that killed 301
Merkel fires back at Trump: Germany makes 'independent decisions'
Panama, China open talks on free trade agreement
Trump names Kavanaugh as nominee for next supreme court justice
Turkey's Erdogan begins new term with expanded powers
Sharif, his daughter will be arrested on their arrival at any airport in Pak: Minister
ENTERTAINMENT NEWS
I am a big flop actor: Karan Johar
 (Mumbai, May 5, 2018): Filmmaker Karan Johar is in mood to take up full-fledged acting jobs.  
Bittersweet moment for us: Akshaye on Vinod Khanna's Dadasaheb Phalke honour
Happy Sonam is getting married, Anand a great guy: Harshvardhan Kapoor
Auctioning 'Rustom' costume for good cause: Akshay Kumar
KERALA NEWS
Kerala among 13 states on thunderstorm alert
 (New Delhi, May 7, 2018): Thunderstorms accompanied by squall, hail and heavy rains are likel
Kerala Karshaka Jadha Opens to a Great Beginning / Video
Malappuram press club attack: RSS workers nabbed
Workers injured in mudslide at construction site
NATIONAL NEWS
Mob-lynching cases: Govt asks WhatsApp for solutions beyond labelling forwards
 New Delhi, Jul 19 (PTI) The government today shot off another notice to WhatsApp asking it to come o
Unidentified 'intruder' killed at Indo-Pak border: official
Oppn, Govt brace for no-trust vote today; BJP confident of win, Cong says issue not just of numbers
Woman alleges rape by Delhi-based singer
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