Chinese President Xi Jinping and Premier Li Keqiang during the final session of the National People's Congress in Beijing on Thursday. Photo: EPA-EFE
Chinese President Xi Jinping and Premier Li Keqiang during the final session of the National People's Congress in Beijing on Thursday. Photo: EPA-EFE

China pledges largest-ever economic rescue package to save jobs and livelihoods amid coronavirus

  • Premier Li Keqiang confirmed the 4 trillion yuan (US$559 billion) worth of cost cuts for the country’s struggling factories and merchants on Thursday
  • The combined cuts in business costs will be carried out on top of 2 trillion yuan in additional fiscal spending and government bond issuances

Chinese President Xi Jinping and Premier Li Keqiang during the final session of the National People's Congress in Beijing on Thursday. Photo: EPA-EFE
Chinese President Xi Jinping and Premier Li Keqiang during the final session of the National People's Congress in Beijing on Thursday. Photo: EPA-EFE
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