(Yicai Global) May 12 -- China will introduce more policy measures to deal with the impact of the Covid-19 resurgence in the country and the Russia-Ukraine conflict when the time is right, according to an official.
China has much experience of coping with downward pressure on the economy and “will take action when the right time comes,” Han Wenxiu, executive deputy director of the General Office of the Central Financial and Economic Affairs Commission, said at a press conference today.
The country must speed up the implementation of current economic policies and strive to carry them out in the first half of this year, Han noted.
A Politburo meeting on April 29 said China must tackle the coronavirus and stabilize the economy. Balancing these twin efforts will be a test for all local governments and authorities, Han said.
The nation also must not waste time in making incremental policy adjustments, he said, adding that China has enough room for fine-tuning fiscal, monetary and other policies and a rich regulatory experience in mitigating economic headwinds.
The State Council and related authorities will be releasing detailed policies to help industries, micro, small and medium-size enterprises as well as individual businesses hit hard by the pandemic, he said.
Editor: Tom Litting