China’s coronavirus-hit economy needs ‘policy support to intensify’, Premier Li Keqiang says
- Various international and domestic emergencies have exceeded expectations, Premier Li Keqiang says
- Job and consumer price stability are central to keeping the economy going, he says
China’s premier has acknowledged worse-than-expected domestic and international headwinds are battering the economy, saying the country will need to roll out more support.
“The global situation is complicated and evolving, and pandemic outbreaks have been reported at home. Some emergency factors have already surpassed expectations,” Li Keqiang told an economic forum on Thursday he according to a central government statement released on Friday night.
“Policy support needs to intensify at an appropriate time. While existing measures should be enforced as soon as possible, we should study new countermeasures.”
Echoing a statement following Wednesday’s cabinet meeting, Li said employment and consumer price stabilisation were key to keeping the Chinese economy running “within an appropriate range”.
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But he did not mention gross domestic product growth, which was widely believed to be well down in the first quarter.