China urges European Union to remain united, fearing Brexit fallout, nationalism

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"This can generate 11 million jobs", Li was quoted as saying on the Chinese governmental portal said during his annual press conference after the closing of the 10-day National People's Congress session.

Li's statements came in the backdrop of a possible meeting between President Xi Jinping and Donald Trump being set up in April in the US.

Speaking at his annual news conference at the end of the annual meeting of China's parliament, Li said that China backed European integration.

Li is optimistic about the relationship between the two countries, noting that a trade war "would not make our trade fairer", the Wall Street Journal reported. He reiterated that the "One China" policy, under which the USA regards Taiwan and mainland China as parts of the same country, constitutes the "political foundation" of ties between Beijing and Washington.

Li also touched on North Korea amid speculation of another nuclear test by Pyongyang, warning that "tensions on the Korean peninsula may lead to conflict and bring harm to all parties".

"We believe this will help Hong Kong maintain its status as an worldwide financial centre and provide Hong Kong investors more options".

"I believe whatever differences we have, we can still sit down and talk to each other and work together to find solutions", he said.

"China has no intention to devalue its currency to boost exports", said Li.

Premier Li said China's trade and investment ties with the United States created up to one million American jobs previous year.

China's Premier Li Keqiang has publicly rejected the notion that countries in the Asia-Pacific need to make a choice between China and the United States.

The Chinese premier said he had recently read an assessment by "an authoritative global think-tank" that in the event of a Sino-US trade war, "those worst-impacted would be foreign-invested companies, in particular US companies".

He acknowledged potential risks in the financial sector and said the government will take them seriously and adopt prompt and targeted measures to prevent them from spreading.

Hong Kong is a part of China but operates under the "One Country, Two Systems" approach, which allows the city to run its own affairs. "It's just common sense that no one wants to see chaos on his doorstep". He said the exchange rate "will remain generally stable".

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