China's authorities plan stronger steps to revive an economy hit by the spread of coronavirus, as the nation on Saturday reported no new locally transmitted infections for the previous day.
SHANGHAI - China’s authorities plan stronger steps to revive an economy hit by the spread of coronavirus, as the nation on Saturday reported no new locally transmitted infections for the previous day.
The Politburo called for expanding the budget deficit, issuing more local and national bonds, guiding interest rates lower, delaying loan repayments, reducing supply-chain bottlenecks and boosting consumption. Restrictions on foreigners entering the country went into effect on Saturday, as China reported no new locally transmitted infections and a small drop in so-called imported cases.Beijing has in recent days emphasized the risk posed by imported virus cases after widespread lockdowns within China helped to sharply reduce domestic transmissions. The Politburo said it would shift its focus to prevent more imported cases and a rebound in locally transmitted infections.
The number of infections for mainland China stands at 81,394, with the death toll rising by three to 3,295, the commission said.
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