China Vows to Ensure Growth and Block Inflation

China’s economy had a mixed recovery in May, with industrial output beating expectations and returning to growth while consumer spending and the property market remained in contraction

(Bloomberg) — China is confident it can ensure steady economic growth and keep inflation in check, according to officials at the National Development and Reform Commission, the top economic-planning agency.

Officials who reiterated a vow to tap policy reserves when necessary. The government will coordinate Covid control and economic development in a “highly effective” way, adjusting policy based on local situations to contain outbreaks and avoiding “one-size-fits-all” policies, said Ou Hong, a deputy secretary general of the National Development and Reform Commission (NDRC).

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