Faced with economic bleeding, Xi left with no choice but to tap Premier Li
December 10, 2023
  • Circulation
  • Advertise
  • Careers
  • About Us
  • Contact Us
Organiser
  • ‌
  • Bharat
    • Assam
    • Bihar
    • Chhattisgarh
    • Jharkhand
    • Maharashtra
    • View All States
  • World
    • Asia
    • Europe
    • North America
    • South America
    • Africa
    • Australia
    • Global Commons
  • Editorial
  • Analysis
  • Opinion
  • International
  • More
    • G20
    • Sports
    • Defence
    • RSS in News
    • Azadi Ka Amrit Mahotsav
    • Politics
    • Vocal4Local
    • Business
    • Economy
    • Special Report
    • Culture
    • Sci & Tech
    • Entertainment
    • Education
    • Books
    • Interviews
    • Travel
    • Law
    • Health
    • Obituary
    • Podcast
MAGAZINE
No Result
View All Result
  • ‌
  • Bharat
    • Assam
    • Bihar
    • Chhattisgarh
    • Jharkhand
    • Maharashtra
    • View All States
  • World
    • Asia
    • Europe
    • North America
    • South America
    • Africa
    • Australia
    • Global Commons
  • Editorial
  • Analysis
  • Opinion
  • International
  • More
    • G20
    • Sports
    • Defence
    • RSS in News
    • Azadi Ka Amrit Mahotsav
    • Politics
    • Vocal4Local
    • Business
    • Economy
    • Special Report
    • Culture
    • Sci & Tech
    • Entertainment
    • Education
    • Books
    • Interviews
    • Travel
    • Law
    • Health
    • Obituary
    • Podcast
No Result
View All Result
Organiser
No Result
View All Result
  • Home
  • Bharat
  • World
  • G20
  • Editorial
  • Opinion
  • Analysis
  • Culture
  • Defence
  • International Edition
  • RSS in News
  • Magazine
Home World

Faced with economic bleeding, Xi left with no choice but to tap Premier Li

The Chinese economy is reeling from the double whammy of a strict zero-COVID policy and President Xi Jinping's crackdown on the property and tech industries.

by WEB DESK
Jun 2, 2022, 11:05 pm IST
in World
FacebookTwitterWhatsAppTelegramEmail

Beijing [China]: In order to stabilize the nation’s bleeding economy and avoid negative growth in the April-June quarter, Chinese premier Li Keqiang has been brought back at the forefront to revive the economy

The Chinese economy is reeling from the double whammy of a strict zero-COVID policy and President Xi Jinping’s crackdown on the property and tech industries.

As the Chinese economy contracted by 6.8 per cent in real terms in the January-March quarter of 2020, Xi Jinping had no other option but to tap Premier Li to stop the economic repression that he had largely sidelined throughout their decade in office, Nikkei Asia reported.

Xi has no choice but to tap Premier Li to stop the economic bleeding. Xi has largely sidelined Li throughout their decade in office, but perhaps the two have now reached a compromise of sorts.

China held a massive video conference on stabilizing the economy last week in which Premier Li Keqiang addressed roughly 100,000 senior officials in over 2,800 municipalities across the nation, official state media reported.

According to official state media, “The difficulties in March, and since April in particular, are in some respects and to a certain extent greater than those experienced in 2020 when the COVID-19 epidemic hit the country,” Li stated during the conference.

He further urged officials to do more work to ensure “reasonable economic growth,” pointing to the April-June quarter.

As per the reports by Nikkei Asia, China, in a quest to achieve recovery at cruising speed in July-September has planned to mobilize all central and local government organizations and state-owned companies, as well as bring forward the implementation of infrastructure development projects, including the resumption of nuclear power plant construction work.

The National Bureau of Statistics also announced on Tuesday that the purchasing managers index, or PMI, for China’s manufacturing sector was below the boom-or-bust threshold of 50 for the third straight month in May.

China, which once boasted of a robust defence against the COVID-19 pandemic, is now hit hard by the return of the virus and the sharply rising unemployment rate.

The country’s export growth witnessed a sharp fall to 3.9 per cent in the month of April, as the draconian COVID-19 curbs that the country imposed in late March in the economic hub of Shanghai, and other cities start to show their effect on the economy.

China’s overall trade grew by 2.1 per cent in April, slowing down significantly from 7.5 per cent in March, while the growth in exports saw a significant downturn falling sharply from 14.7 per cent in March to 3.9 per cent in April.

Shanghai lifted its two-month-long lockdown Wednesday, but the zero-COVID policy continues to stay in effect, affecting various parts of the country. (ANI)

Topics: ChinaXi JinpingEconomy
ShareTweetSendShareSend
Previous News

Maharashtra ATS arrests man in J-K’s Kishtwar for alleged links with Lashkar-e-Taiba

Next News

Import of Russian crude oil not India-related issue: MEA

Related News

Taiwanese official raises concerns over China’s heightened interference in Presidential Election

Taiwanese official raises concerns over China’s heightened interference in Presidential Election

India projected to become the third-largest economy by 2030: S&P Global Credit Outlook 2024

India projected to become the third-largest economy by 2030: S&P Global Credit Outlook 2024

IMF Executive Director KV Subramanian commends India’s GST revenue and strong GDP growth

IMF Executive Director KV Subramanian commends India’s GST revenue and strong GDP growth

US: Sharp increase in pneumonic outbreaks allegedly spreading from China ‘rattles’ Warren County, Ohio

US: Sharp increase in pneumonic outbreaks allegedly spreading from China ‘rattles’ Warren County, Ohio

US House Foreign Affairs Committee approves ‘Resolve Tibet Act’ for Tibet-China dispute

US House Foreign Affairs Committee approves ‘Resolve Tibet Act’ for Tibet-China dispute

Karnataka: Health Department alerts State after surge of respiratory illness in China

Karnataka: Health Department alerts State after surge of respiratory illness in China

Load More

Comments

The comments posted here/below/in the given space are not on behalf of Organiser. The person posting the comment will be in sole ownership of its responsibility. According to the central government's IT rules, obscene or offensive statement made against a person, religion, community or nation is a punishable offense, and legal action would be taken against people who indulge in such activities.

Latest News

69th ABVP National Conference: Prof. Yashwantrao Kelkar Youth award ceremony concludes successfully

69th ABVP National Conference: Prof. Yashwantrao Kelkar Youth award ceremony concludes successfully

BJP names former Union Minister Vishnu Deo Sai as new Chhattisgarh Chief Minister 

Chhattisgarh: Vishnu Deo Sai, senior tribal leader’s remarkable political resurgence as new CM of the State

Shri Ram Janmabhoomi Trust unveils stunning carvings inside Ayodhya’s Ram Mandirs’ sanctum-sanctorum

Shri Ram Janmabhoomi Trust unveils stunning carvings inside Ayodhya’s Ram Mandirs’ sanctum-sanctorum

BJP names former Union Minister Vishnu Deo Sai as new Chhattisgarh Chief Minister 

BJP names former Union Minister Vishnu Deo Sai as new Chhattisgarh Chief Minister 

UN Special Rapporteur Richard Bennett denounces lack of accountability for crimes in Afghanistan

UN Special Rapporteur Richard Bennett denounces lack of accountability for crimes in Afghanistan

Bharatiya Majdoor Sangh to hold protest in support of scheme workers in New Delhi

Bharatiya Majdoor Sangh to hold protest in support of scheme workers in New Delhi

Assam Rifles and police commandos conduct joint operation, recover arms and ammunition in Manipur’s  Thoubal

Assam Rifles and police commandos conduct joint operation, recover arms and ammunition in Manipur’s  Thoubal

Madhya Pradesh: Shivraj Singh Chouhan announces ‘Mission 29’ to secure all Lok Sabha seats in the State

Madhya Pradesh: Shivraj Singh Chouhan announces ‘Mission 29’ to secure all Lok Sabha seats in the State

Political buzz in Northeast as ‘saffron seizure’ takes centre stage; Assam CM Biswa confident of winning 25 seats 

Political buzz in Northeast as ‘saffron seizure’ takes centre stage; Assam CM Biswa confident of winning 25 seats 

Birth Anniversary Of Chakravarti Rajagopalachari: India’s illustrious statesman, scholar, and advocate for Peace

Birth Anniversary Of Chakravarti Rajagopalachari: India’s illustrious statesman, scholar, and advocate for Peace

  • Privacy
  • Terms
  • Cookie Policy
  • Refund and Cancellation
  • Delivery and Shipping

© Bharat Prakashan (Delhi) Limited.
Tech-enabled by Ananthapuri Technologies

No Result
View All Result
  • Home
  • Bharat
    • Assam
    • Bihar
    • Chhattisgarh
    • Jharkhand
    • Maharashtra
    • View All States
  • World
    • Asia
    • Africa
    • North America
    • South America
    • Europe
    • Australia
    • Global Commons
  • Editorial
  • Opinion
  • Analysis
  • Defence
  • Culture
  • Sports
  • Business
  • RSS in News
  • Entertainment
  • More ..
    • Sci & Tech
    • Vocal4Local
    • Special Report
    • Education
    • Books
    • Interviews
    • Travel
    • Health
    • Politics
    • Law
    • Economy
    • Obituary
    • Podcast
  • Subscribe Magazine
  • Advertise
  • Circulation
  • Careers
  • About Us
  • Contact Us
  • Policies & Terms
    • Privacy Policy
    • Cookie Policy
    • Refund and Cancellation
    • Terms of Use

© Bharat Prakashan (Delhi) Limited.
Tech-enabled by Ananthapuri Technologies