China’s deluge of weak economic data prompts pointed calls by Premier Li Qiang on inspection tour
- For new-energy vehicles, China will ‘optimise purchase and usage policies’ to further tap the market and drive consumption, especially in rural areas, Li says
- Comments come on the premier’s trip to Shandong province that wrapped up on Friday after visits to large firms
China’s leaders have their hands full as they try to quell a cacophony of cries among private entrepreneurs, foreign investors and ordinary citizens whose collective confidence in the Chinese market continues to be tested following recent releases of lower-than-expected economic data.
To that end, Premier Li Qiang’s two-day inspection tour in the eastern province of Shandong this week offered some insight into what solutions the authorities will employ.
While details and specifics remain scarce, he said such efforts aim to boost household spending and export orders. And purchasing policies for new-energy vehicles will be improved to help boost their consumption potential, particularly in rural areas.
“More targeted measures are needed to expand domestic demand and stabilise external demand, so as to promote a sustained economic rebound,” Xinhua quoted Li as saying during his trip, which ended on Friday. “We need to take more deterministic steps to hedge against various uncertainties, and do our best to get the best results.”
China’s No 2 political figure, known for his pragmatism in boosting economic growth, visited leading automotive firms, new-energy-vehicle dealerships, and electronics manufacturers, as well as home-appliance makers such as Haier and Hisense.
