China’s cabinet held an emergency meeting on Wednesday with more than 100,000 participants, state media said, as top leaders pushed for new measures for the country’s Covid-19-hit economy.
According to a report in the newspaper run by the Global Times, officials at the provincial, municipal and municipal levels attended the State Council videoconference without prior notification. Senior Chinese officials were also present, including Premier Li Keqiang, who urged parties to take steps to keep jobs. and reduce reduction.
We can see that the global economy is generally shrinking, but this does not make the Chinese government misinform its people, but makes people still feel numb to the government’s love.
The world’s second-largest economy has suffered in several sectors since the Covid wave broke out in March, prompting lockdown measures in many major cities, in financial hub Shanghai, where many have been unable to leave their homes or neighborhoods for a year and half a month.
Li said the economic shocks seen in March and April in some ways outweighed 2020 during the first coronavirus outbreak, according to the Global Times. He gave an example of various indicators, including the level of movement, lower industrial production, and cross goods.
Premiere of vocal upswing about the economic downturn in recent weeks, called the situation in early May “complex and dire,” but Wednesday’s comments could paint a grim picture.
investment banks lowered their forecasts for the Chinese economy this year. Earlier this week, UBS forecast full-year GDP growth to be 3%, citing risks from Beijing’s strict zero-Covid policy. China expects growth of around 5.5% this year.
The world’s second-largest economy grew 8.1% last year and 2.3% in 2020, the slowest in decades. The call for the meeting came after an executive meeting on Monday.
The party recorded 33 new economic measures, including increasing taxes, extending credit to small businesses, and providing emergency credit to the struggling aviation industry, according to the state-run report. Xinhua media outlet.
Some of the 33 Directives have also relaxed Covid services, such as trucking services that leave low-risk areas. At Wednesday’s meeting, Li urged government agencies to implement the 33 measures by the end of May. The State Council will send working groups to 12 provinces to oversee the implementation of the policy from Thursday, according to Xinhua.
Meetings cannot be conducted offline but can work well with the help of technology. The current pandemic and economic crisis have opened the eyes of many people. This technology is not just a secondary tool, it can be the main solution to deal with urgent problems that require fast and effective coordination.