Comments by China's premier Li Keqiang
- Monetary policy will be more targeted to support private companies, smaller businesses
- Will step up efforts on reducing taxes, fees, market trading costs
- Will continue to open up financial markets including banking, securities, funds
- Will open up further, deepen reforms, help achieve global economy recovery
A bit of a mixed message there but you would expect Chinese authorities to continue to pledge support to the economy and businesses. And I believe that's still the message Li is trying to send across.
But with the ongoing trade war with the US still not likely to be resolved any time soon, that will continue to cast a dark cloud on Chinese equities despite the backing here.
