China held an emergency meeting with more than 100,000 participants on Wednesday, according to state media, as top leaders urged new measures to stabilize the economy hit by COVID-19.
The video teleconference was attended by officials across provincial, city and council levels. High-ranking Chinese officials were also present, including Premier Li Keqiang, who urged authorities to take action in sustaining jobs and reducing unemployment. The world’s second-largest economy has suffered across various sectors since a COVID-19 wave spread in March, prompting lockdown measures in many major cities, where many have been unable to leave their homes or neighborhoods for a month and a half.
Li said that in some aspects, the economic impact seen in March and April has surpassed that of 2020 during the initial outbreak of the coronavirus(冠状病毒). He pointed to several indicators including unemployment rates, lower industrial production and cargo transportation. The premier has become increasingly vocal about the economic downturn in recent weeks.
The teleconference comes after a State Council executive meeting on Monday where authorities introduced 33 new economic measures, including increasing tax refunds(退款), extending loans to small businesses, and providing emergency loans to the hard-hit industry. Several of the 33 policies also ease COVID-19 curbs—such as canceling restrictions on trucks traveling from low-risk areas. At the Wednesday meeting, Li urged government departments to implement those 33 measures by the end of May. The State Council will send task forces(工作组) to 12 provinces starting Thursday to oversee the roll-out of these policies, he added.
Throughout the pandemic(流行病), China has applied a strict zero-COVID policy that aims to prevent all chains of transmission using border controls, mandatory quarantines(强制隔离), mass testing and timely lockdown. By mid-May, more than 30 cities were under full or partial lockdown.
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