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Aug 17, 2022 06:51 PM
ECONOMY

China’s Li Urges More Pro-Growth Policy as Economy Sputters

Li Keqiang Photo: Bloomberg
Li Keqiang Photo: Bloomberg

(Bloomberg) — China’s Premier Li Keqiang asked local officials from six key provinces that account for about 40% of the country’s economy to bolster pro-growth measures after data for July showed consumption and output grew slower than expectations due to Covid lockdowns and the ongoing property slump.

Li told officials at a meeting to take the lead in helping boost consumption and offer more fiscal support via government bond issuance for investments, state television CCTV reported Tuesday evening. He also vowed to “reasonably” step up policy support to stabilize employment, prices and ensure economic growth.

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