Sunday, June 4, 2023
Village Voice News
ADVERTISEMENT
  • Home
  • News
  • Sports
  • Editorial
  • Letters
  • Global
  • Columns
    • Eye On Guyana
    • Hindsight
    • Lincoln Lewis Speaks
    • Future Notes
    • Blackout
    • From The Desk of Roysdale Forde SC
    • Diplomatic Speak
    • Mark’s Take
    • In the village
    • Mind Your Business
    • Bad & Bold
    • The Voice of Labour
    • The Herbal Section
    • Politics 101 with Dr. David Hinds
    • Talking Dollars & Making Sense
    • Book Review 
  • Education & Technology
  • E-Paper
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Sports
  • Editorial
  • Letters
  • Global
  • Columns
    • Eye On Guyana
    • Hindsight
    • Lincoln Lewis Speaks
    • Future Notes
    • Blackout
    • From The Desk of Roysdale Forde SC
    • Diplomatic Speak
    • Mark’s Take
    • In the village
    • Mind Your Business
    • Bad & Bold
    • The Voice of Labour
    • The Herbal Section
    • Politics 101 with Dr. David Hinds
    • Talking Dollars & Making Sense
    • Book Review 
  • Education & Technology
  • E-Paper
  • Contact Us
No Result
View All Result
Village Voice News
No Result
View All Result
Home Global

China to use effective investment, not flood-like stimulus, to boost economy, state media report

Staff Reporter by Staff Reporter
July 31, 2022
in Global
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Support Village Voice News With a Donation of Your Choice.

(Reuters) – China will use effective investment to help the economy recover and will not resort to flood-like stimulus, state media said on Friday, following a cabinet meeting chaired by Premier Li Keqiang.

The world’s second-largest economy narrowly avoided contraction in the second quarter due to widespread pandemic lockdowns. Analysts said Beijing’s full-year growth target of around 5.5% had been looking increasingly unattainable under Beijing’s strict zero-COVID policy.

READ ALSO

14 dead in mountain collapse in SW China’s Sichuan

China expounds security initiative, warns against instability in Asia-Pacific at Shangri-La Dialogue

To spur demand, China urged local governments to speed up the use of special bonds for infrastructure that are mature and profitable, but such bonds should not be used for land reserves or to make up the gap between local fiscal revenue and expenditure, state media said.

To spur consumption, China will extend an exemption on purchase tax on “new energy” vehicles, following a cut to the car purchase tax.

Advertisement

China “will promote consumption to be the major economic driver continuously,” state media reported.

As shoppers tighten their belts, policymakers have found it harder to revive retail consumption this year – a sector that contributes more than half to the economy and a major source of employment.

In the first half of this year, retail sales dropped 0.7% from a year earlier as many consumers were confined at home amid strict anti-virus measures.

The economy is in the “critical window” of stabilisation and recovery, and the third quarter is “vital”, according to a Wednesday meeting of the country’s top economic planner.

“(We should) seize the time window of the peak season for construction in the third quarter, improve work efficiency” and “help create jobs for local people nearby as much as possible,” said a Friday statement of the meeting by the National Development and Reform Commission.



Support Village Voice News With a Donation of Your Choice



ShareTweetSendShareSend

Related Posts

Chiandailly.com Photo
Global

14 dead in mountain collapse in SW China’s Sichuan

by Admin
June 4, 2023

Fourteen people were killed and five others are missing following a mountain collapse on Sunday in Leshan City, southwest China's...

Read more
Global

China expounds security initiative, warns against instability in Asia-Pacific at Shangri-La Dialogue

by Admin
June 4, 2023

All eyes were on the Chinese defense minister's debut at the Asia Security Summit in Singapore. Speaking on China's security...

Read more
Global

India train crash: More than 260 dead after Odisha accident

by Admin
June 3, 2023

(BBC News) At least 261 people have been killed and 1,000 are injured in a crash involving three trains in...

Read more
Next Post

Emancipation

EDITOR'S PICK

Democracy, Dollars or Dominance?

September 18, 2021

If the world avoids a recession, it’ll have India and China to thank

November 23, 2022
Owner of Flawless Wings Designs, Phelicia Adams

Knitting improves one’s mental health 

October 11, 2020

Agri. Ministry procures three amphibious excavators under flood risk management project

January 1, 2023

© 2022 Village Voice | Developed by Ink Creative Agency

No Result
View All Result
  • Home
  • News
  • Sports
  • Editorial
  • Letters
  • Global
  • Columns
    • Eye On Guyana
    • Hindsight
    • Lincoln Lewis Speaks
    • Future Notes
    • Blackout
    • From The Desk of Roysdale Forde SC
    • Diplomatic Speak
    • Mark’s Take
    • In the village
    • Mind Your Business
    • Bad & Bold
    • The Voice of Labour
    • The Herbal Section
    • Politics 101 with Dr. David Hinds
    • Talking Dollars & Making Sense
    • Book Review 
  • Education & Technology
  • E-Paper
  • Contact Us

© 2022 Village Voice | Developed by Ink Creative Agency