China to provide policy support for economic recovery: state planner official

19.01.2021 - Korneychuk Evgeniya
China to provide policy support for economic recovery: state planner official

China will lay out policy support for its economic recovery this year; also to avoid a fiscal cliff as small businesses continue to be dragged down by the COVID-19 crises. This development was affirmed by a senior official at the state planner on Tuesday.

With an upbeat economic output in the final quarter of 2020, China was the lone major economy to expand amid a coronavirus-stricken global economy. China is poised to continue its economic expansion this year despite persisting virus infections.

In a major agenda-setting meeting held last month, Chinese leaders iterated to sustain necessary policy support for the economy in 2021. With this in place, the Chinese government is avoiding a sudden policy shift and is pointing to a smaller economic stimulus for this year.

Moreover, policy insiders said China is looking at cooling growth credit and cut down fiscal stimulus this year to balance debt levels. The government has also revealed some measures, including cheap loans for some sectors and deferred loan repayments for small businesses.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?