Efforts underway to keep China's growth target on fairway
BEIJING – China is preparing new measures to counter economic headwinds and realign its GDP with stated growth targets this year and next, such as expansionary fiscal moves and accommodative monetary support alongside efforts to secure the job market, according to experts.
Officials and economists see cross-cyclical adjustments, or policy shifts toward a more easing stance, as crucial to offset new downward pressure emerging in the fourth quarter, with a rise in financing constraints in the property sector and ongoing coronavirus resurgences.
But this year's main goals can be achieved, Premier Li Keqiang told scholars and entrepreneurs at a seminar on Friday. He called for new methods to support manufacturers and smaller firms, including further tax and fee cuts, as well as measures to ease pressure of rising commodity prices, according to a meeting statement.
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