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Premier Li Charges Chinese Nationals Abroad to Contribute to Development
Premier Li Keqiang on Monday called on Chinese nationals abroad to support the government's economic initiatives and contribute to development by linking local industries with the global market.
Premier Li, who was addressing more than 400 people including Chinese business owners abroad and heads of the chambers of commerce from about 80 nations during the maiden Overseas Chinese Industry and Commerce Convention at the Great Hall of the People, expressed confidence in the ability of the government to deal with the current upheavals in the stock market.
"We have the confidence and capability to handle various risks and challenges and to push forward sustainable and healthy development," he said.
Premier Li urged Chinese business owners abroad to get involved in the Silk Road Economic Belt and the 21st Century Maritime Silk Road initiative. He also called on them to connect local industries with the global market in order to aid expansion and improve the quality of products made in the country. A top Chinese official has revealed that many participants in the convention are from countries set to be involved in the Belt and Road initiative.
Chinese migrant workers and business owners overseas have always been an important part of the country's economy. The World Bank revealed in 2014 that next to India, China was the country with the largest amount of remittance inflow at $64 billion (over 397 billion yuan). This year the World Bank has estimated that the amount of remittances flowing into China is expected to reach up to $66 billion (410 billion yuan).
During the conference, Premier Li also highlighted the importance of creating a favorable reputation for Chinese businesses abroad. Some Chinese contractors - particularly in Africa - have been accused of drowning out local competitors with aggressive bidding strategies and carrying out shoddy jobs.
Many experts have commended the idea for the Overseas Chinese Industry and Commerce Convention, saying it will enable the government to directly harness the advantages that Chinese business owners and migrant workers abroad have to offer to the local economy.
Attendants to the two-day conference are scheduled to visit parts of the country to seek out business opportunities.