Economics
China Official Says Covid Outbreak Is a ‘Huge Shock’ to Economy
- Deputy chief of statistics bureau comments in Xinhua interview
- Official reiterates policy measures made in Politburo meeting
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One of China’s top statistics officials said the coronavirus outbreak has come as a “huge shock” to the economy, a rare recognition of the cost of the government’s Covid Zero strategy, but added that it will only have a short-term impact on production and people’s lives.
Sheng Laiyun, deputy chief of the National Bureau of Statistics, said the effects will recede gradually with Covid control measures and other polices, and “the economy is expected to reach an inflection point of recovery,” according to an interview with the official Xinhua News Agency published Thursday.