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China will strive for reasonable economic growth in Q2: Premier

BEIJING: China will strive to achieve reasonable economic growth in the second quarter, state media quoted Premier Li Keqiang as saying on Wednesday (May 25).

China will also strive to bring down its jobless rate as soon as possible, Li was quoted as saying at a national meeting on stabilising the economy.

China's economic indicators have weakened significantly since March, especially in April, Li said, adding that economic difficulties in some aspects were even bigger than in 2020 when the economy was first hit by the COVID-19 outbreak.

Many private-sector economists expect the economy to shrink this quarter from a year earlier, compared with the first quarter's 4.8 per cent growth.

China will unveil detailed implementation guidelines for a package of policies to stabilise growth by the end of May, Li added.

The cabinet on Monday announced a package of policy steps, including broadening tax credit rebates, postponing social security payments and loan repayments and enlisting new projects to support the economy.

Source: Reuters/gs

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