Chinese Premier Li Keqiang’s assessment of the stress facing China’s economy and warning of a potential contraction in the second quarter after two months of zero-Covid containment show Beijing is stepping up efforts to stabilize the economy, analysts say, reports the South China Morning Post.
Li’s video conference with more than 100,000 government cadres on Wednesday also reinforced the pressure Beijing is putting on local authorities to prevent economic growth losing momentum.
Earlier in the week, the China’s State Council, unveiled a package of 33 policies to support the economy, including fast tracking infrastructure projects and loan extensions for business, increasing tax breaks and rebates, encouraging car sales, and adding support policies by the end of this month.
You must log in to post a comment.