China doesn't want trade war with US, says Premier Li

Chinese Premier Li Keqiang on Tuesday said that China did not want to enter into a trade war with the United States, adding that the war would only damage the relationship between the two sides.

He further said that there will be no winner from any trade war between China and the United States, and that he hopes both sides can remain "calm".

Speaking at the closure of the 13th National People's Congress (NPC), Premier Li said that Beijing wanted stable and good relations with Washington D.C.

Premier Li's comments on trade war come after US President Donald Trump is preparing to impose a package of USD 60 billion in annual tariffs against China, following through on a long-time threat, which according to him will punish China for intellectual property infringement and help create more American jobs.

Stressing that the Chinese economy will open wider globally, the Chinese Premier was quoted by Xinhua as saying, "Chinese economy is so integrated into the global economy that closing the doors would only block China's own way. The economy will further open to the rest of the world."

He also said that the Chinese economy would be more competitive as it would 'fully open' manufacturing industries to foreign competitors.

"Beijing plans to eliminate import tariffs on drugs and slash duties on consumer goods. We also plan to further bring down overall tariffs with zero tariffs for drugs, especially much-needed anti-cancer drugs," he added.

The NPC is the national legislature of China. With 2,924 members as of 2017, it is the largest parliamentary body in the world.