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China's policy measures exceed 2020's this year – state media quoted PM as saying

BEIJING (Reuters) – Premier Li Keqiang was quoted by state media on Monday as saying that China’s policy measures to support the economy have exceeded 300 so far this year.

The government has introduced a series of policies this year to support the economy ravaged by the new crown epidemic.

“This year, in order to meet new challenges, we have decisively launched a package of policies and follow-up policies to stabilize the economy, more than 2020,” Li Keqiang was quoted as saying.

Last week, the Cabinet announced new policies, including an increase in the quota of the Policy Bank Facility 300 billion ( 300.$400 million). This is on top of a package 33 of measures announced in May.

Beijing will seek to reduce red tape, stabilize employment and prices, and keep the economy operating within a reasonable range, Li said.

China’s economy narrowly emerged from contraction in the June quarter. Economic activity rebounded for the month but slowed in July, increasing pressure on policymakers to ramp up support.

There are no signs that the government is planning to ease its hardline “coronavirus zero” policy, with some private economists expecting economic growth of about 3% this year, which will Slowest since

– excluding

growth of 2.2% during the initial COVID outbreak.

($1 = 6.9165 RMB RMB)




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