China will ensure stable economic operations this year, cabinet says
Reuters
Published Mar 14, 2022 08:24AM ET
BEIJING (Reuters) - China will ensure stable economic operations this year, keep economic growth, employment and prices within reasonable ranges, state media quoted the cabinet as saying on Monday.
China's economy faces new downward pressure and difficulties and challenges increase, the cabinet was quoted as saying after a regular meeting.
China will "strengthen cyclical adjustments and put stabilising growth in a more prominent position, deepen reforms and opening up to strive to achieve the full-year targets and tasks", the cabinet said.
China is targeting slower economic growth of around 5.5% this year as a property downturn and lacklustre consumption cloud the outlook for the world's second-largest economy.
China will enhance the availability of financing for small firms and lower comprehensive financing costs, the cabinet said.
China will closely monitor changes in the international situation and commodity prices and the possible impact on China's economy, and take steps to cope with it, the cabinet said.
The government will quicken the pace of tax refunds to help firms, the cabinet added.
China has pledge to deliver tax cuts and tax rebates totalling around 2.5 trillion yuan ($393 billion) this year.
($1 = 6.3644 Chinese yuan renminbi)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.