China moves to protect economy from trade war, vows to hit 5% growth target
Beijing announced new measures to protect jobs and boost consumption, while insisting it was ‘fully confident’ of achieving its economic goals
China announced a series of measures to protect its economy and workers from the impact of an intensifying trade war with the United States on Monday, as officials said they remained “fully confident” of hitting the country’s annual economic growth target of about 5 per cent.
“We still have ample policy reserves and plenty of policy space,” said Zhao Chenxin, deputy head of the National Development and Reform Commission, the country’s top economic planning body, at a press conference.
“No matter how the international situation evolves, we will stay focused on our development goals … and concentrate on managing our own affairs well. We are fully confident in achieving this year’s economic and social development targets.”
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China moves to protect economy from trade war, vows to hit 5% growth target
Beijing will encourage companies to maintain stable hiring, step up vocational training schemes, expand employment through public works programmes and other supportive projects, and strengthen public employment services, according to Zhao.