China Needs Countercyclical Policies to Boost H2 Growth: Daily

China needs countercyclical policies to keep growth in a reasonable range, help create short-term jobs and resolve cyclical downturn pressure, the Economic Information Daily said citing Liu Xiangdong, an economist with the China Center for International Economic Exchanges. While the economy is recovering, it faces uncertain global and domestic situations, long-standing issues and the pandemic, Liu was cited as saying. Liu commented after the newspaper reported Premier Li Keqiang's speech to a group of economists and businesspeople on Monday. Li repeated his mantra that China will keep monetary policies prudent, fiscal policies proactive, and won't resort to using excessive credit to achieve growth, according to the newspaper.