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China’s Li Keqiang issues stark warning on economy

China’s Premier Li Keqiang said a lot more can be done to stabilise China’s economy. Li's stark warning comes amidst a growing chorus of calls from officials and business leaders for more balance between stopping the virus and supporting the ailing economy. Li told a State Council meeting that the challenges now are greater than when the pandemic hit hard in 2020. He said they must seize the time window and strive to bring the economy back onto a normal track. Li further said that officials ought to make sure there is “reasonable” growth in the second quarter, fuelling fears that the country's target for yearly expansion of around 5.5% may not be met. The State Council will send teams to 12 provinces to oversee local work in implementing state policies.

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