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HomeEconomyChina to roll out more measures to stabilize economy - state media

China to roll out more measures to stabilize economy – state media

BEIJING (Reuters) – Premier Li Keqiang was quoted by state media on Monday as saying that China will continue to roll out phased economic stabilization policies focusing on revitalizing consumption and boosting investment, and implement them as soon as possible. .

Premier Li said that China will take various measures to stabilize growth, employment and prices.

“China will focus on boosting consumption recovery as the main drive,” Premier Li was quoted as saying by the National Radio, increasing efforts to promote effective investment.

No. 1 in the world The two largest economies narrowly avoided a contraction in the second quarter amid the spread of the new crown epidemic – 19 Lockdowns and weakness in the housing market dented consumption and factory activity.

Li It also said that China will speed up the construction of key projects and increase policy bank financing according to the needs of the local economy.

Recent data show that the Chinese economy further loses momentum in August , factory activity continues to slump and export growth slows as demand weakens amid strict COVID restrictions.

China’s cabinet last week announced more measures to stimulate investment, expanding a series of measures To boost economy ravaged by COVID- 19.

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