China Vows More Pro-Growth Policies as Banks Urged to Step Up
- Adjustment of macro policies will be enhanced, says minister
- Banks called on to increase funding support for infrastructure
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Beijing ratcheted up calls to boost China’s Covid-battered economy, with the nation’s finance minister saying more pro-growth policies are being studied and a newspaper affiliated with the Cabinet urging banks to step up lending for infrastructure projects.
The government will further accelerate fiscal spending as well as the sale of special local government bonds, Finance Minister Liu Kun said Tuesday during a meeting of the standing committee of the National People’s Congress, according to a report by the Xinhua news agency. Special local bonds are mainly used for financing infrastructure investment.