Chinese Premier Li Keqiang said on Tuesday that China had reached its most difficult stage of economic stabilization, and called on leaders of provinces most vital for the country's economy to coordinate efforts on recovery
BEIJING (Pakistan Point News / Sputnik - 16th August, 2022) Chinese Premier Li Keqiang said on Tuesday that China had reached its most difficult stage of economic stabilization, and called on leaders of provinces most vital for the country's economy to coordinate efforts on recovery.
"The economy continued to recover in July, but small fluctuations are still present. We are now at the most tense stage of economic stabilization, so we need to build a solid foundation for economic recovery without wasting time," Keqiang said at a meeting with leaders of provinces of Guangdong, Jiangsu, Zhejiang, Henan, Shandong and Sichuan, as quoted by Xinhua news agency.
The prime minister added that measures to combat COVID-19 must be coordinated based on the need to rebuild the economy.
"We need to act in line with the demand that the epidemic must be stopped, the economy must be stabilized and development must be safe," the head of the Chinese government said.
According to the China National Bureau of Statistics, the country's GDP showed an unusually weak growth of just 0.4% in the second quarter of 2022, reflecting two months of lockdown in Shanghai, tougher COVID-19 restrictions in other parts of the country, and disruptions in the manufacturing, logistics and tourism sectors. The Chinese economy expanded by an annual 4.8% in the first quarter of the year.
