China calls for urgent boost to virus-hit economy – FRANCE 24 English

Beijing (AFP) – China’s premier called for greater “urgency” in rolling out measures to support the virus-battered economy, state media reported Wednesday, days after data highlighted the stark impact of Covid-19 restrictions.

China — the last major global economy sticking to a rigid zero-Covid policy — is battling an economic slump due to prolonged virus lockdowns that have constricted supply chains, quelled demand and stalled manufacturing.

“All localities and departments should step up their sense of urgency, and new measures that can be used should be used,” Li Keqiang said at a symposium on Wednesday, according to state broadcaster CCTV.

He added that efforts to support the economy should bring it “back to normal quickly” after admitting that indicators have “weakened significantly” since March, with a particular dip in April.

On Monday, data showed retail sales and factory output last month had slumped the most since the start of the pandemic, while unemployment edged back…

Read Full Story: https://www.france24.com/en/live-news/20220518-china-calls-for-urgent-boost-to-virus-hit-economy

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source: https://news.oneseocompany.com/2022/05/18/china-calls-for-urgent-boost-to-virus-hit-economy-france-24-english_2022051820108.html

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