China pledges support for economic recovery in 2021 as well
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| FILE PHOTO: The Chinese national flag is seen in Beijing, China April 29, 2020. REUTERS / Thomas Peter // File Photo |
Beijing (Reuters) - China wants to stick to its policy of supporting the economic upswing and does not want to change course quickly.
The People's Republic wants to keep growth within a reasonable range in the coming year, the Xinhua news agency reported on Friday after consultations with leading economic politicians in the People's Republic, who at their meeting set the course for the People's Republic in 2021. China wants to pursue a proactive budget policy and align its monetary policy flexibly and specifically, reported Xinhua, citing a statement submitted after the meeting. Policy should be directed effectively and not changed quickly.
Among other things, the People's Republic had lowered taxes to cushion the economic consequences of the Corona crisis. In China, economic growth of around 2.1 percent is expected this year. According to a survey of analysts, it could be 8.4 percent in the coming year.
The government had designed a “double cycle” strategy for the next few years. It mainly wants to rely on the “domestic cycle” of production, distribution and consumption, supported by innovation and modernization of the economy. Foreign companies should support this - this is called the second cycle.
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