Expanding investment, consumption crucial while avoiding return of virus A key Party meeting on Friday pledged greater efforts to expand domestic demand, increase investment and help small and medium-sized enterprises survive the COVID-19 pandemic with normalized containment measures in place. The Political Bureau of the Communist Party of China Central Committee underlined the importance of preventing a possible domestic rebound of the outbreak and stabilizing economic fundamentals while ensuring the people’s basic living needs are met. The meeting presided over by Xi Jinping, general secretary of the CPC Central Committee, called for efforts to help businesses get back to work and production at full capacity, restore the normal economic and social order and foster new growth points while continuing epidemic containment measures on a regular basis. It is important to unleash the potential of consumption, enable businesses to resume operations, boost consumer buying and appropriately raise public spending, said a statement released after the meeting. To bolster investment, the country will carry out renovations of old residential communities, ramp up investment in traditional and new types of infrastructure, spur the upgrading of traditional sectors and boost investment into emerging strategic sectors, the statement said. More work must be done to… Read full this story
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