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China reported annual GDP growth of 6.1 percent in 2019, meeting the official target range for the year. A day before that China signed the phase one trade deal with the United States and analysts said the same will boost business confidence and support stable global economic growth this year.
China isn't throwing in the towel altogether-increased automation, improved productivity, better quality and local branding are helping others maintain competitiveness and boost profits.
China needs to support fundamental research and encourage businesses to undertake fundamental research, Li said, calling for better integrating fundamental research and application of that research to transform research into productivity.
China will continue to implement a proactive fiscal policy, a prudent monetary policy and an employment-first policy, while making good use of countercyclical regulation tools and carrying out anticipatory adjustments and fine-tuning when necessary, according to him.
China requires digital information to be stored in the country and Google has no data centers in the Chinese mainland, so it needs partnerships with local players.