China’s economy is recovering with vast development potential ahead – Premier Li Keqiang
MACRO
China’s economy is recovering with vast development potential ahead – Premier Li Keqiang
MACRO

China’s economy is recovering with vast development potential ahead – Premier Li Keqiang

 

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China’s economy is stabilizing and recovering, with vast development potential in the future, said Chinese Premier Li Keqiang in a phone call with IMF Managing Director Kristalina Georgieva on March 1, according to state broadcaster CCTV. 

Against the backdrop of high global inflation last year, China’s economy maintained stable growth while preventing inflation, with only 2% rise in consumer prices, Li said.

In the past three years since the start of the epidemic, China has adhered to innovative macroeconomic regulation and stimulated market vitality and social creativity through measures such as tax cuts and fee cuts, and as a result, the economy has grown at an average annual rate of 4.5%, higher than the world average, he added.