Chinese premier says reforms, not stimulus, vital for growth

SINGAPORE – Chinese Premier Li Keqiang says the country needs reforms to support business to help drive growth as it weathers a trade war with the U.S., rather than more economic stimulus.

Li said Tuesday in Singapore that China can energize its slowing economy by adjusting policies, such as streamlining bureaucratic procedures like business registrations, taxes and fees.

He said the government will “crack down harshly” on businesses that infringe on patents and other intellectual property rights and engage in “other cheating activities.”

China and the U.S. are locked in a trade dispute over Washington’s complaints that China uses predatory tactics to acquire technologies a drive to supplant U.S. technological supremacy.

Li is in Singapore to participate in a Southeast Asian summit and related events.