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MNI BRIEF: China's Economic Recovery To Accelerate - NDRC

MNI (Singapore)
MNI (Beijing)

China’s economic growth is expected to accelerate, though a sustained recovery in Q4 will require "arduous efforts" to offset disruptions from renewed Covid outbreaks, said Meng Wei, spokeswoman for the National Development and Reform Commission at a briefing on Wednesday.

The NDRC will prioritise the stabilisation of growth by accelerating the use of policy banks’ financial instruments to fund infrastructure construction, speed up the recovery of consumption, and increase support for SMEs, according to Meng. She also said steps would be taken to strengthen food, energy, and supply chain security, as well as to stabilise employment and prices.

The NDRC approved a total 97 fixed asset investment projects with a total investment of CNY1.42 trillion in the first ten months of the year, mainly in energy, transportation and water conservancy, Meng added.

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