Chinese Officials Vow to Carry Out Plans for Growth Stimulus

(Bloomberg) ― Chinese officials vowed to carry out a series of government policies to stimulate growth following Premier Li Keqiang’s recent call to avoid a Covid-fueled economic contraction this quarter.

Ministry of Finance authorities said Thursday they would accelerate refunds of value-added taxes, make it easier for small companies to bid on government purchasing projects and ensure that local special bonds ― mainly used to fund infrastructure projects ― are issued smoothly, according to a ministry briefing. At a separate press conference, People’s Bank of China (PBOC) officials promised to step up plans to implement monetary policy to help maintain growth.