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Politburo promises economic stimulus package

The party leadership considers issuing stimulus packages to prevent the economy from slowing down too much after all. “The COVID-19 and Ukraine crises bring risks and challenges,” state news agency Xinhua quoted a Politburo statement as saying on Friday. China reportedly will lend a helping hand to industry, as well as small firms. It will also promote the healthy development of the real estate market and ensure the stable functioning of capital markets. This is intended to avert systemic risks. However, the nature and scope of the aid remain unclear. The state leadership announced that it would keep economic growth within a “reasonable framework” and achieve the social and economic goals for 2022. niw/rtr

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