Li Qiang Urges More Support After China’s July Growth Slips Below 5% Target
Updated
Updated · Bloomberg · Aug 18
Li Qiang Urges More Support After China’s July Growth Slips Below 5% Target
3 articles · Updated · Bloomberg · Aug 18
Summary
Li Qiang told officials at a State Council meeting on Monday to roll out “practical and effective” incremental policies after July data showed broad-based economic weakness.
July’s slump likely pushed growth further below China’s around 5% annual target, prompting Li to press officials to fully use existing measures while stepping up support.
The premier said policymakers should stay focused on development goals and “strive to achieve” this year’s economic and social targets.
The call underscores rising pressure on Beijing to add stimulus as momentum fades across the economy and the official growth goal comes under greater strain.