China's Xi Urges 'all-out' Infrastructure Push To Boost Growth

Sumaira FH Published April 27, 2022 | 03:40 PM

China's Xi Jinping has called for an "all-out" campaign to build infrastructure, according to state media, marking the latest attempt by leaders to boost growth in the Covid-battered economy

Beijing, (APP - UrduPoint / Pakistan Point News - 27th Apr, 2022 ) :China's Xi Jinping has called for an "all-out" campaign to build infrastructure, according to state media, marking the latest attempt by leaders to boost growth in the Covid-battered economy.

Despite struggling to defeat the country's worst outbreak in two years, the leadership is digging in its heels with a strict zero-Covid policy that involves lockdowns in the biggest cities and mass testing.

But the measures have snarled supply chains and hammered business morale, sending shockwaves through the global economy and markets.

"Infrastructure is an important support for economic and social development," Xi said at a high-level meeting on Tuesday, according to the official Xinhua news agency.

And the Central Committee for Financial and Economic Affairs meeting added that China's "infrastructure is still incompatible with the demand for national development and security".

The meeting identified several sectors such as transport and energy where an infrastructure boost was needed, including the construction of ports and airports.

Recent lockdowns have clogged supply chains and transport networks -- including in the economic dynamos of Shanghai and Shenzhen as well as the northeastern grain basket of Jilin.

But there were some signs of easing as officials said restrictions in hard-hit cities of Jilin and Changchun would "gradually lift" from Thursday after weeks of lingering restrictions.

City authorities laid out plans on Wednesday for most staff to return to work on top of an "orderly" lifting of traffic restrictions.

Fears have been growing of a lockdown in the capital Beijing, however, with large gatherings, group travel and weddings on hold in an effort to stamp out infections -- squashing hopes of resurgent consumer spending over the five-day May holiday.