The Chinese People's Political Consultative Conference, the country's highest political advisory body, noted that China needs to step up its actions as soon as possible to drive the faltering post-COVID-19 recovery.
Analysts at major international banks cut their economic growth forecasts for 2023 after May data showed weak demand in China and abroad, reinforcing arguments for the need for more stimulus measures. "It is better to take action sooner rather than later, as the Chinese economy is facing severe downward pressure, and its recovery is unstable and unbalanced," said Ning Jizhi, vice chairman of the Economic Committee at the Chinese People's Political Consultative Conference.
Source (Alkhaleej Emirati Newspaper, Edited)
