China’s Li sees room to boost economy without opening stimulus floodgates GlobeBusiness
China has room to stimulate an economy trying to recover in the wake of the coronavirus pandemic, but the government does not want to open the “floodgates,” Premier Li Keqiang said on Thursday at the end of the annual meeting of parliament.
“We have reserved policy room. Be it fiscal, finance, or social security,” Li said during his once-a-year news conference that follows the close of the parliament. Investors have been waiting for Beijing to roll out more aggressive stimulus to pull the economy out of an unprecedented downturn, and some were disappointed at the decision not to set a growth target when the annual session of parliament opened last Friday after a delay of 78 days.
And the United States, Britain and the European Union have all expressed concern about the security legislation and its implications for China’s freest city.
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