China’s Premier Li Qiang chaired a State Council executive meeting on Monday that called for a series of policies to strengthen support for the economy, reports the South China Morning Post. Li encouraged local governments, where conditions allow, to pilot measures to boost consumption.
“In response to emerging challenges in the economy’s operation, efforts should be made to intensify countercyclical adjustment of macro policies and promote innovation-driven, high-quality and sound economic development,” according to a statement published after the meeting.
The central government will continue to study and stockpile measures to boost demand, plan more levers with strong knock-on effects, improve supporting measures and encourage localities to pilot them first where possible, the statement said.