Economics

China Rolls Out New Stimulus Measures as Covid Pressures Economy

State Council announces tax relief, construction bonds
Support is mostly aimed at companies rather than households

WATCH: China will offer more than 140 billion yuan ($21.1 billion) in tax relief to companies and consumers. Kathleen Hays reports.Source: Bloomberg

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By Bloomberg News

May 23, 2022 at 11:47 AM UTC

Updated on

May 24, 2022 at 3:07 AM UTC

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China rolled out a broad package of measures to support businesses and stimulate demand as it seeks to offset the damage from Covid lockdowns on the world’s second-largest economy.