China’s Politburo determined to maintain the ‘zero COVID’ policy

Xi Jinping speaks at a meeting of the Politburo of the Communist Party of China on April 29 – Photo: XINHUA

On April 29, the Politburo China met under the chairmanship of General Secretary, President Xi Jinping of China to discuss measures to stabilize the economy and society.

According to Chinese state media, this is a highly anticipated meeting due to concerns that the anti-COVID-19 blockade in China will disrupt supply chains both at home and abroad.

“The COVID-19 and Ukraine crises have led to increased risks and challenges. The complexity, severity and uncertainty of China’s economic development environment has increased,” Xinhua quoted an official as saying. decision of the Politburo of China during the meeting.

According to Xinhua, Chinese leaders also acknowledged that stabilizing growth, employment and prices were facing “new challenges”. In this context, Beijing determined that it is very important to “effectively do good economic work and protect and improve people’s livelihoods”.

The meeting of the Politburo of China on April 29 came to pledge to have policy packages to support industries and small businesses affected by COVID-19. China will also accelerate the construction of infrastructure and stabilize traffic, logistics and supply chains, expanding the demand of the domestic market.

China’s top leaders also decided that the country would stick to its flexible “Zero COVID-19” strategy, affirming that it is a measure that will protect people’s lives and health as well as minimize the impact impact of the epidemic on economic and social development.

China’s Politburo pledged to actively respond to the concerns and calls of foreign investors, which have been greatly affected by the COVID-19 outbreak in the country.

Share prices of Chinese companies, especially technology companies, rose in trading on April 29 with the results of the meeting.

According to the newspaper South China Morning Post (SCMP)China is likely to be preparing to relax control and supervision measures for technology companies, ending what is considered the worst period of China’s Big Tech.

Analysts believe China will need more stimulus measures and some loosening of asset restrictions if it is to reach its 2022 growth target of around 5.5%.