Premier Offers Cheer to Chinese Businesses

A rundown of the news making headlines in and around China:

Premier rallies sentiment: Premier Li Qiang toured Beijing Tuesday, sharing words of encouragement for businesses amid heightened external uncertainty. He emphasized the need to expand domestic demand, while highlighting the significant growth potential in the real estate market. China faces the dual problems of weak consumer confidence at home and increasing hostility from major trading partners overseas, manifesting most recently in an additional 145% U.S. import tariff on Chinese goods. Li made several stops, including an exhibition for export products and a property development. Speaking to exhibitors, he stressed that in response to the profound external changes, businesses should explore diversified markets, innovate trade channels and methods, and strive to stabilize foreign trade. He also showed support for purchasing existing properties and turning them into affordable housing and called for cities to have greater autonomy in setting housing policy. Li pushed for stabilizing employment, income growth and the real estate market to boost consumer capacity and confidence.