BUSINESS China likely to see positive growth this year

BUSINESS

China likely to see positive growth this year

Xinhua

18:37, October 22, 2020

Chinese Vice-Premier Liu He, also a member of the Political Bureau of the Communist Party of China Central Committee, attends the opening ceremony of the Annual Conference of Financial Street Forum 2020 in Beijing, capital of China, Oct 21, 2020. (Photo: Xinhua)

BEIJING -- It is highly probable that China would register positive growth this year, as key economic indicators improved quarter by quarter, Chinese Vice-Premier Liu He said here on Wednesday.

Liu, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks while delivering a keynote speech at the Annual Conference of Financial Street Forum 2020 that opened here on Wednesday.

The decision to put people's lives first and contain the epidemic before steadily restoring the economy has been perfectly right, he said.

The Chinese economy is witnessing new trends, said Liu, citing stronger development impetus from innovation, more emphasis on developing new industries centering on final demand, as well as further attention to green development.

Liu stressed adhering to a prudent monetary policy in a flexible and appropriate way, as well as the need to keep it stable.

China will develop a multi-level capital market, build a multi-level banking system, resolutely resolve risks, and give full play to the role of financial technology, according to Liu.

China will also continue to advance all-round opening-up, Liu said, noting that under the current situation, it is crucial to strengthen international cooperation to deal with the epidemic and push for the steady recovery of the global economy.

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