Entradas etiquetadas: Recovery

China’s economy is continuing a steady recovery this year, vice premier Han Zheng said on Sunday.

Han made the remarks to the China Development Forum, a high-level business gathering hosted by the Development Research Centre of the State Council.

Han also said China, the world’s No.2 economy, will strengthen macro policy coordination with other countries.

China’s economy is widely expected to grow more than 8 % in 2021, led by an expected double-digit expansion in the first quarter.

Analysts say the pace is driven by a low base for comparison and the recovery remains uneven.

The economy expanded 2.3 % last year, the only major economy to report growth, although the growth was its weakest in 44 years.

Meanwhile, China had administered 74.96 million doses of Covid-19 vaccines as of Saturday (March 20), health commission spokesman Mi Feng said at a news briefing on Sunday.

That compared with about 65 million doses administered as of March 14, or an additional 10 million vaccinations in less in a week, as the country accelerates its inoculation drive with the aim to inoculate 40 % of its 1.4 billion population by the middle of the year.

Over 70 million doses of Sinovac Biotech’s shot have been administered globally so far, a company spokesman said during the news conference on Sunday. He did not say how many of those had been administered in China.

Beijing is also considering implementing differentiated policies for visa issuance, flights and controls on the numbers of people arriving in China.

This based on vaccination progress and the Covid-19 situations in the countries of origin.

“We do not exempt vaccinated people from testing and isolation measures for the time being,” said Feng Zijian, vice director of the Chinese Center for Disease Control.

Source: Channel News Asia and The Star News

China said its economy had yet to fully bounce back from the coronavirus pandemic and pledged financial support for recovery efforts at the end of a key annual policy meeting on Friday.

The country suffered its first contraction in decades this year in the wake of a public health crisis that prompted drastic lockdowns in Wuhan and sent factory activity into a nosedive.

Its economy has faced a small recovery after authorities managed to largely contain the infection, and China is likely to be the only major world power to record positive growth this year.

But officials at this week’s Central Economic Work Conference presided over by President Xi Jinping, said the recovery would be “unstable and uneven” and signaled a fiscal policy focused on maintaining economic stability.

“We must be clearly aware that there are many uncertainties in the evolution of the pandemic and external environment, and the foundation for our country’s economic recovery is not yet solid,” said a statement from the three-day summit published by state broadcaster CCTV.

Beijing seeks recovery in technology

Beijing will boost financial support to technological innovation, small business, and green projects into the new year in efforts to keep the economy on an even keel, the meeting said.

Officials also said they would prevent “the disorderly expansion of capital,” strengthening a new anti-monopoly push.

It follows Beijing’s recent signs of displeasure with the growing power of the country’s tech giants, with draft antitrust rules last month suggesting more regulation for the sector is on the horizon.

China has moved to clip the wings of its fast-growing online platforms, earlier halting the planned record-smashing US$34 billion IPO of Ant Group, the financial arm of e-commerce giant Alibaba.

What do you think about these efforts to keep the recovery of the economic sector?

Source: Channel News Asia