China, US should resume timely communication on trade: China adviser
[BEIJING] China and the United States should resume timely communication on trade and other issues, a former senior Chinese official said on Thursday, stressing that the world's two biggest economies are too intertwined to be decoupled.
Zhu Guangyao, an adviser to the cabinet and former vice finance minister, made the remarks at a briefing in Beijing.
The room for China to support the economy through fiscal and monetary policies is "very big", said Wang Zhaoxing, another cabinet adviser at the briefing.
China should prepare for a long battle to prevent and resolve financial risks and control shadow banking and financing to (the) property sector, Mr Wang added.
Liu Huan, a third cabinet adviser, said he expected China's economy to rebound sharply in the third quarter of this year.
Mr Liu told reporters after the briefing that he believed China's economic growth could be about 5 per cent in the third quarter.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
The economy contracted 6.8 per cent in the first quarter from a year earlier, shrinking for the first time in decades, as the outbreak of the new coronavirus paralysed production and hit spending.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’