China will be able to maintain stable economic growth – state planner

REUTERS

SHANGHAI – China has the confidence, condition and ability to dungeon economic growth for a reasonto be able to level, a senior state planning official told Xinhua News Agency.

The world’s second-largest economy faces multiple challenges looking to 2022, amid a slowdown in real estate and tight COVID-19 restrictions in some areas, which is hurting consumer spending.

China should assess the likely impact of policies on growth prior to implementation, and “be careful” in deploying those that have contractionary effects, Ning Jizhe, deputy head of the National Development and Reform Commission (NDRC) said in the interview released Wednesday. .

The country will prepare for next year economic work in advance and ‘strive to stabilize economic operations in the first quarter, in the first half and even throughout the year ”.

China issued 1.46 trillion yuan ($ 229.21 billion) of the 2022 anticipated quota for special local government bonds to stimulate investment and support the economy, the finance ministry said last week .

China increase public spending, strengthen support for manufacturers and small businesses, and ensure price stability, Ning added.

China will also work to stabilize industry supply chains, focus on solving chip shortage issues and step up monitoring of commodity prices, said Ning, who is also at the head of the National Bureau of Statistics.

To help economic growth, China will continue to implement proactive fiscal policies, redouble efforts to build an integral domestic market, while further shortening the “negative list” of foreign investment, Ning said as quoted by Xinhua.

China uses a so-called negative list to prohibit or limit foreign investment in certain industries, such as telecommunications or resources.

China will also combine inter-cyclical and counter-cyclical measures to prevent economic volatility, Ning said. – Reuters

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