China’s Economic Gauges Are Improving, Vice Premier Liu Says
Chen Juan
DATE:  Jun 18 2020
/ SOURCE:  Yicai
China’s Economic Gauges Are Improving, Vice Premier Liu Says China’s Economic Gauges Are Improving, Vice Premier Liu Says

(Yicai Global) June 18 -- China has done well so far in coordinating its response to Covid-19 and economic indicators are beginning to show minor signs of improvement, Vice Premier Liu He of China’s State Council said in written remarks at the 12th Lujiazui Forum, which kicked off today.

The economy is still under pressure but the situation is gradually getting better, he added.

Below are some of the key points and suggestions Liu raised:

- China and the US should build the foundations for and eliminate interference in the first phase of an economic and trade agreement between the two.

- China’s central government will continue to adhere to its ‘one country, two systems’ principle with Hong Kong and continue to support the special administrative region and its role as an international financial hub. The government will also help protect the interests of foreign companies and investors in Hong Kong to ensure prosperity and stability.

- China will follow its prudent monetary policy in a more flexible and appropriate way, maintain a moderate aggregate policy and keep liquidity ample.

- The country should put in place risk handling measures before the market curve changes. Regulators should better predict market mentality amid economic downturn and other uncertain conditions.

- Market watchdogs should step up regulation of market intermediary organs and intensify the crackdown on financial fraud and other violations.

- China should stick to its market-oriented, rule-of-law principle and improve its fundamental systems, such as those relating to information disclosure, share insurance and delisting.

- Liu is confident that China can respond to internal and external risk to ensure the sound operation of its financial system.

- The country should innovate financial products, optimize financial structures and increase the proportion of loans issued to smaller companies and manufacturers.

- Liu hopes Shanghai will further explore the integration of finance, science and technology, and industry.

Editor: James Boynton

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Keywords:   Economy,Liu He