ICYMI: China's Premier Li said fiscal expenditure will reach a record high this year

China's Premier Li Qiang was speaking at the ASEAN - Gulf Cooperation Council (GCC) - China Economic Forum official dinner on the sidelines of the 46th Association of Southeast Asian Nations (ASEAN) Summit in Kuala Lumpur, Malaysia.

Notably, Li said that

• fiscal outlays in China will reach a record high this year

• the government is directing more policy resources towards consumption to boost demand

Li had some comments on Trump's trade war:

• "Facing rising protectionism and unilateralism in some places of the world, we must be committed to expanding opening up and removing barriers"
• "Economic globalisation is currently experiencing an unprecedented major impact"
• Li urges upholding a multilateral trading system with the World Trade Organization at its core

• said China's economy has continued to recover and improve since the beginning of the year, and that Chinese exports have remained "resilient despite external pressure".

Info via Reuters report ICYMI.