China's Xi urges efforts to balance Covid Zero with the economy

CHINESE President Xi Jinping called on his government to adhere "unwaveringly" to its Covid Zero policy, while at the same time striking a balance with the needs of the economy.

Xi urged all regions and departments to be resolute in overcoming economic difficulties as they co-ordinate China's response to the virus and strive to maintain social stability, state broadcaster China Central Television reported on Thursday (Jun 9), citing comments from Xi's visit to Sichuan province.

The remarks are noteworthy for their emphasis on ensuring stability, amid growing anxiety over China's strict approach to eradicating Covid-19, which has curtailed economic activity and included a bruising 2-month lockdown of Shanghai, its biggest city and financial hub.

China's economy is widely expected to miss its 5.5 per cent growth target this year because of the virus curbs. Xi's call for a stable political and economic environment comes at a crucial juncture for the president, who is seeking to secure an unprecedented third term in power at the Communist Party congress in the autumn. BLOOMBERG