MNI BRIEF: China To Boost Support For Economy Amid Covid - NBS

China will strengthen policy support to bolster domestic demand and stabilise employment as growth is pressured by the global slowdown and measures to control renewed Covid outbreaks, said National Bureau of Statistics spokesman Fu Linghui in a briefing on Tuesday.

The economic recovery expanded at a slower pace in October as industrial output and consumption were impacted by new Covid outbreaks and the soft global economy. “The basis for economic recovery has not been solid yet,” Fu said.

China's economy will remain “resilient” as infrastructure investment remains robust, the sale of automobile and electronic products boosts industrial output as well as consumption, and the real estate sector will stabilize with policy support, he said, adding that the consumer price index will rise at a tepid rate.

The recent adjustment of the Zero-Covid policy and a series of stimulus measures will also help the recovery of the economy, he added.