China’s premier said that policy makers have more stimulus measures ready in case of a further deterioration in the economy, which he said would keep the world’s second largest economy “on a steady course,” as Beijing wrestles with the fallout from the coronavirus pandemic and rising geopolitical tensions, reported the Wall Street Journal.
“We have reserved policy space on the fiscal, monetary, social security and other fronts, and we are in a strong position to quickly introduce new measures should the situation call for it, without any hesitation,” Premier Li Keqiang said Thursday at a press briefing to mark the end of an annual weeklong legislative conclave in Beijing.
Keeping economic growth on track has always been a critical task for China’s leaders, but that is particularly true as the country faces its deepest economic slowdown since Beijing began enacting economic reforms in the late 1970s and unleashed decades of breakneck growth.
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