China presses economic relief measures at massive teleconference
24 Jan 2025
HONG KONG: China held a massive nationwide meeting this week to coordinate the implementation of plans to stabilize and support an economy beleaguered by its zero-COVID policy.
The unprecedented session was convened amid mounting evidence of the economic cost of the nation’s extreme measures to contain the pandemic. Lockdowns across the country, especially in the financial hub, Shanghai, have confined people to their homes, suspended factory production and disrupted supply chains.
This week, the investment bank UBS cut China’s economic growth forecast from 4.2% to 3% for this year, citing the...
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