CHINA-LEADERSHIP: CHINESE PREMIER LI KEQIANG PRESIDES OVER STATE COUNCIL EXECUTIVE WEEKLY MEETING
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Chinese Premier Li Keqiang presided over the State Council’s weekly executive meeting on September 9, when boosting consumption and stimulating domestic demand was discussed. Li Keqiang acknowledged that “COVID-19 has made a big impact on consumption” and that “for China to achieve positive growth this year, boosting consumption is vitally important.” He said, “Efforts should be made in line with our own national conditions to expand channels of consumption and stimulate domestic demand.” Li Keqiang suggested some measures including the faster buildout of “new infrastructure” like 5G and Internet of Things technology; similarly building more traditional infrastructure like CBDs, industrial parks, and transportation hubs; introducing preferential tax policies to support the growth of new business; helping brick-and-mortar businesses to establish internet presences and vice-versa; and extending social security coverage to people working in “new business models” and offering protection for flexible employment.
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