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Xi Calls for ‘All Out’ Infrastructure Push to Boost Economy

  • Strategy unlikely to be as effective given Covid lockdowns
  • Old playbook of stimulus via public spending being used
Bloomberg business news
China's Xi Turns to Construction Spending as Lockdowns Hit Economy
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China’s President Xi Jinping made a bold commitment to boost infrastructure construction in Beijing’s latest bid to rescue economic growth, a strategy that may prove less effective this time around as authorities take a hardline approach to bringing Covid outbreaks under control.

All-out efforts must be made to spur infrastructure spending, Xi said Tuesday at a meeting of the Central Committee for Financial and Economic Affairs. Infrastructure was a pillar of economic and social development, Xi added, according to a report from the state-run Xinhua News Agency.