China Says It Will Defuse Financial Risks at Its Top Legislative Meeting
- Premier Li Qiang said policymakers will address hidden dangers
- Officials will meet justified financing demands in real estate
Attendants in the Great Hall of the People ahead of the start of the CPPCC in Beijing.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China pledged to deepen measures to address financial risks and “hidden dangers” at its annual legislative meeting, as policymakers seek to grow the economy with “greater security.”
Top officials aim to defuse risks in the property sector, local government debt, and small and medium-sized financial institutions by “addressing both symptoms and root causes,” Premier Li Qiang said in a government work report released Tuesday at the National People’s Congress meeting. They will also improve coordination to ensure parties ranging from enterprises to government departments fulfill their responsibilities in cutting risks.