2023-07-06 21:43:00
China’s premier Li Qiang pledged on Wednesday that the country would “spare no time” in implementing a series of targeted policies to bolster the economy’s recovery from the pandemic. State Central Television (CCTV) reported.
At a seminar with researchers, he said China was at a critical stage of economic recovery and industrial upgrading. He said targeted, comprehensive and well-coordinated measures must be implemented quickly to stabilize growth and jobs while preventing risks. Details of the measures were not disclosed.
This statement is in line with expectations of private economists. For weeks, they had predicted that China would fall short of all-out stimulus to deal with the slowdown. With local governments overindebted, economists are predicting measures such as lower borrowing costs and targeted tax credits.
CCTV said the prime minister had promised to establish a regular communication system between the government and private and foreign companies to enhance the scientific decision-making process.
China’s Commerce Minister Wang Wentao on Wednesday held talks with 12 foreign drug makers, including Merck and Pfizer, to understand their business in China and ask for suggestions to optimize the business environment for foreign companies.
news-rsf-original-reference paywall">Original title:China’s Li Says Recovery at Critical Stage, Vows Speedy Measures(excerpt)
(Part of this article uses automatic translation)
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