The Chinese economy is recovering but the basis of this recovery is not solid and more efforts are still needed, Chinese Premier Li Keqiang said, according to state media on Thursday.
The world’s second-largest economy has begun a slow recovery from supply shocks caused by extensive lockdowns since the second quarter, although problems for growth persist.
“At the moment, the economy is recovering, but the foundations are shaky. Much work is needed to stabilize the economy,” Li said during a meeting with senior officials from Shanghai, Guangdong, Fujian, Jiangsu and Zhejiang.
More efforts will be made to increase the enthusiasm of officials at both the central and local levels and keep the economy operating within a reasonable range, Li said.
Shanghai and the other four provinces account for more than a third of China’s economy and play a key role in central government transfer payments to the poorest regions, given that their tax revenues account for nearly 40% of the total, Li said.
China will continue to reform and improve the business environment, and will continue to open up its economy to the outside world, no matter how the international situation changes, Li added.
Source: CNN Brasil
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