China has policy room to cope with challenges, Premier Li says

CHINA has policy room to cope with challenges, as the downward pressure on China's economy increases, state media quoted Premier Li Keqiang as saying on Wednesday (May 18).

China will ensure its economic operations in the first half and the whole year will be "within reasonable range", Li was quoted as saying.

"At present, prices are stable and there is still policy space to cope with challenges," Li was quoted as saying at a meeting held in China's southwestern Yunnan province.

"Since March, especially April, some economic indicators have weakened significantly, and the downward pressure on the economy has further increased," Li said further.

Economic data for April published this week showed China's consumption and factory output fell at a pace unseen since early 2020 at the start of the pandemic.

The government will act decisively to step up policy adjustments and strive to let the economy return to the normal track quickly, he said.

Li also pledged to take effective measures to boost the confidence of private enterprises, and support domestic and overseas stock listings of platform and digital companies. REUTERS