China intends to increase policy measures in a timely fashion to aid the economy while researching new stimulus plans, according to the country’s premier Li Keqiang, reports Reuters. China’s worst COVID-19 wave since the Wuhan outbreak, the escalating Ukraine crisis and a sharp downturn in the domestic property sector are roiling the country’s financial markets.
“Currently, some emergency events in the international and domestic environment have exceeded expectations, and economic operations are facing greater uncertainties and challenges,” Li was quoted as telling a group of economists and company executives.
“We should implement policies in advance, step up policies in a timely way and study new contingency plans.” Analysts expect China’s central bank to lower borrowing costs or pump more cash into the economy to spur growth.