Business & Economy

Chinese premier promises more measures to boost demand

Shanghai, China, Jan 21 (EFE).- Chinese Premier Li Keqiang promised “firmer steps” to boost national demand in a context of economic slowdown, the official China Daily newspaper reported Friday.

In a plenary session of the State Council, China’s executive, Li said the Chinese economy is facing “new adverse factors and growing uncertainties,” for which he insisted on giving greater priority to “stabilizing growth.”

He said authorities “will significantly increase the adoption of macro policies” to achieve this objective.

Beijing has taken measures in recent weeks – for example, lowering interest rates – after the national economy grew in the last quarter of 2021 at 4 percent year-on-year, one of the lowest rates in recent times.

Li spoke of the government’s importance in the first quarter, which will be key to “guaranteeing a good start to the year.”

Among measures cited by the head of government are “more powerful aid” for small and medium enterprises and self-employed people in trouble.

Others are specific support policies for sectors affected by the pandemic or that are engines of job creation and accelerating the construction of “important projects.”

The latter is in line with analysts’ forecasts that Beijing will once again boost investment in infrastructure to foment growth.

The government said its actions in coming months, will not only aim to increase demand but also “guarantee security of supply and stabilize market expectations.” EFE


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