China to consolidate and expand economic recovery, premier says

CHINA’S economy is picking up and the government will work to consolidate and expand the recovery momentum, state media quoted Premier Li Keqiang as saying on Friday (Feb 3).

The economy still faces difficulties and challenges, Li was quoted as saying at a cabinet meeting discussing the annual government work report that will be released at the annual Parliament meeting in March.

China’s economic growth is rebounding thanks to a package of support policies and the move to adjust Covid-19 control measures, and the government should work to consolidate and expand the recovery trend, Li said.

China’s economic activity swung back to growth in January, after a wave of Covid-19 infections passed through the country faster than expected following a sudden lifting of pandemic controls in December.

The International Monetary Fund has raised its forecast on China’s economic growth to 5.2 per cent this year, compared with growth of 3 per cent in 2022. REUTERS