China Adopted Over 90 Measures To Boost Economy Amid COVID-19 Pandemic - Statistics Bureau

BEIJING (UrduPoint News / Sputnik - 30th October, 2020) Beijing has been making progress in both stemming the spread of the coronavirus disease and restoring economic growth undermined by the pandemic by implementing more than 90 measures to boost economic activity, Ning Jizhe, the commissioner of the National Bureau of Statistics of China, said on Friday.

According to Ning, the Chinese authorities have managed to swiftly come up with a strategy and implement measures to simultaneously fight the epidemic and support the economy.

"Not only were we the first to get the epidemiological situation under control, but we also were the first to restore positive rates of economic growth ... we adopted over 90 multifaceted political measures to resume work and production in eight directions, which allowed to resolve the issue of supplies and do away with hindrances as well as support stable performance of the manufacturing and supply chains," the commissioner said at a press conference.

He added that the government had also stimulated the country's market activity by introducing diverse measures such as lowering taxes, cutting costs, and issuing treasury bonds to finance the effort against the pandemic.

"The continuous acceleration of the reform to streamline administrative procedures, the creation of favorable conditions for entrepreneurial activities, the simplification of entrance into the market, expansions of outside connections helped to reach the stabilization of expectations, investment, foreign trade, and foreign investment," Ning said.

China, like many other countries, saw a decline in economic activity earlier in the year due to restrictive measures imposed to prevent COVID-19 from spreading.