An executive meeting of China’s State Council has called for solid work to sustain the country’s economic recovery, ensure and improve people’s livelihoods, and guarantee that the country’s annual economic and social development goals are met. Efforts should be made to optimize macro policies and strengthen macro regulation, according to the meeting, which was chaired by Premier Li Qiang on Wednesday. The meeting underscored the importance of efforts to make more substantive breakthroughs in expanding domestic demand, nurturing emerging and future industries, and promoting high-standard opening-up.

It discussed and approved in principle a draft revision of China’s law on arbitration and a draft law on national parks, both of which will be submitted to the Standing Committee of the National People’s Congress for deliberation. Arbitration should play a greater role in serving China’s economic development and opening-up, and work will be done to enhance the credibility and international influence of the country’s arbitration, according to the meeting.

(Source: The State Council of The People’s Republic of China)