Li Keqiang asked local officials from six key provinces that account for about 40 per cent of the country’s economy to bolster pro-growth measures.
| China’s Premier Li Keqiang asked local officials from six key provinces that account for about 40 per cent of the country’s economy to bolster pro-growth measures after data for Julybelow expectations due to COVID-19 lockdowns and the ongoing property slump.
Shoppers in Beijing. China’s central bank trimmed a key interest rate this week to shore up sagging economic growth.“Only when the main entities of the market are stable can the economy and employment be stable,” Mr Li was cited as saying at the meeting in a front-page report carried in theThe meeting came after Monday’s surprise interest-rate cut did little to allay concern over the property and COVID zero-led slowdown.
Mr Li urged local governments to accelerate the construction of projects with sound fundamentals in the third quarter to drive investment, the report said, adding that the Premier also asked officials to expand domestic consumption of big-ticket items such as automobiles and support housing demand.
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