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China's economic recovery
EconomyEconomic Indicators

China’s electric vehicles, tech lauded on premier’s symbolic Shenzhen tour as Beijing seeks economic stability

  • Li Keqiang’s visit to the southern tech hub is being viewed as a fact-finding mission ahead of a key Politburo meeting at the end of this month
  • The 67-year-old visited tech giant Huawei Technologies, carmaker BYD and Yantian Port, while calling for more ‘reform and opening up’

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Chinese Premier Li Keqiang visited the southern technology hub of Shenzhen on Tuesday. Photo: Xinhua
He HuifengandKandy Wong

Premier Li Keqiang has thrown Beijing’s support behind entrepreneurs, new energy vehicles and technology during a whistle-stop tour of Shenzhen, with China looking towards one of its most “important and strategic regions” to shore up the economy.

Li emerged from the annual summer retreat to visit the southern tech hub in what is being viewed as a fact-finding mission ahead of a key Politburo meeting at the end of this month, where top officials will discuss the biggest challenges facing the country.
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The 67-year-old Li, who will retire later this year after serving two five-year terms, visited technology giant Huawei Technologies Co, Chinese carmaker BYD, Yantian Port and spoke to entrepreneurs over two days on Tuesday and Wednesday.

He also stopped at Lotus Hill Park, which features a bronze statue of late paramount leader Deng Xiaoping, the architect of China’s economic reform.

“Shenzhen is at the forefront of China’s reform and opening up. We must insist on reform and opening up. Openness is the basic policy of our country,” Li said during a visit to Yantian Port in a video posted to Chinese social media that has since been removed.

“China’s opening will continue to move on. The Yellow River and the Yangtze River will not flow backward. The waters of Yantian Port will also flow incessantly, and not only will [Yantian Port] continue to maintain your advantages, but also expand your advantages.”

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Li conceded in May that China may need to accept lower economic growth this year, with the world’s second largest economy unlikely to meet the “around 5.5 per cent” target set by the government.
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