China to strengthen policy coordination to cope with challenges - cabinet

China will ensure its economic growth will be in a reasonable range

  
A man makes a call through the headset in the Lujiazui financial district during sunset in Pudong, Shanghai, China July 13, 2021.

A man makes a call through the headset in the Lujiazui financial district during sunset in Pudong, Shanghai, China July 13, 2021.

REUTERS/Aly Song

BEIJING - China will strengthen coordination between fiscal, financial and employment policies as the economy faces challenges from COVID-19 cases and high commodity prices, the cabinet was quoted by state media as saying on Wednesday.

China will ensure its economic growth will be in a reasonable range, the cabinet said after a regular meeting, pledging to roll out policies to boost consumption.

"At present, China's economy maintains a recovery trend and the employment situation is stable," the cabinet said.

"However, unstable factors in the international environment have risen recently, the domestic economy also faces challenges such as scattered COVID-19 cases and high commodity prices," it said.

China's economy roared back to life after a coronavirus-induced slump in 2020, but activity lost steam recently amid regulatory measures, supply bottlenecks and restrictions from localised COVID-19 outbreaks.

The government will also improve its pre-emptive policy, fine-tuning and cross-cyclical policy adjustments to help stabilise market expectations, the cabinet said.

China will use more market-based measures to stabilise commodity prices and ensure electricity and gas supplies during the winter, the cabinet added.

(Reporting by Colin Qian and Kevin Yao, Editing by Louise Heavens, Alexandra Hudson) ((kevin.yao@thomsonreuters.com; +8610 5669 2128;))


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