China’s cabinet announced a package of 33 measures covering fiscal, financial, investment and industrial policies to revive its pandemic-ravaged economy. In terms of monetary and financial policies, China will boost financing efficiency via capital markets, by supporting domestic firms to list in Hong Kong, and promote offshore listings by qualified platform companies. The State Council also vowed to further reduce real borrowing costs and strengthen financial support for infrastructure and major projects. Other measures include policies to ensure energy and food security and stabilize supply chains. Meanwhile, Shanghai offered some tax rebates for companies and allowed all manufacturers to resume operations from June as authorities rolled out policies to revitalize an economy impacted by Covid lockdowns, as part of a 50-point plan for accelerating an economic recovery.
China Announces Detailed Economic Stimulus Measures
China’s cabinet announced a package of 33 measures covering fiscal, financial, investment and industrial policies to revive its pandemic-ravaged economy.
(AgWeb)
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