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China's State Council assigns task forces to major economic provinces to oversee local pro-stabilization policy implementation
By GT staff reporters
Published: Aug 29, 2022 12:31 AM
The State Council, China's cabinet, has assigned task forces to some major economic provinces to oversee local implementation of wide-ranging policies to stabilize the economy, as the country is tuning up regional economic powerhouses to fuel growth momentum through a flurry of targeted measures.
As the working groups, headed by ministers, have appointed supervisory and assisting roles on the front line in a rare pro-growth move, the country's vibrant policy packages are expected to be fully leveraged to anchor the economy toward a more pronounced recovery despite a haze of domestic and global uncertainties, economists said.
Hoping for a turnaround in some of the economy's weak links, notably the property sector, the economists bet on an industry upgrade, evidenced by the country's global lead in new-energy vehicles (NEVs) for instance, to power the Chinese economy's revival down the road.
more...
zhttps://www.globaltimes.cn/page/202208/1274079.shtml
China's State Council assigns task forces to major economic provinces to oversee local pro-stabilization policy implementation
By GT staff reporters
Published: Aug 29, 2022 12:31 AM
The State Council, China's cabinet, has assigned task forces to some major economic provinces to oversee local implementation of wide-ranging policies to stabilize the economy, as the country is tuning up regional economic powerhouses to fuel growth momentum through a flurry of targeted measures.
As the working groups, headed by ministers, have appointed supervisory and assisting roles on the front line in a rare pro-growth move, the country's vibrant policy packages are expected to be fully leveraged to anchor the economy toward a more pronounced recovery despite a haze of domestic and global uncertainties, economists said.
Hoping for a turnaround in some of the economy's weak links, notably the property sector, the economists bet on an industry upgrade, evidenced by the country's global lead in new-energy vehicles (NEVs) for instance, to power the Chinese economy's revival down the road.
more...
zhttps://www.globaltimes.cn/page/202208/1274079.shtml