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Reuters
Reuters
Business

China announces detailed stimulus measures to support virus-hit economy

FILE PHOTO: An employee works on the production line of RiotPWR mobile gaming controllers for U.S. company T2M, at a factory in Dongguan, Guangdong province, China December 7, 2021. REUTERS/David Kirton

China's cabinet announced a package of 33 measures covering fiscal, financial, investment and industrial policies on Tuesday to revive its pandemic-ravaged economy, adding it will inspect how provincial governments implement them.

The stimulus package, which was flagged by China's State Council in a routine meeting last week, underscores Beijing's shift toward growth, after COVID-19 control measures pounded the economy and threaten Beijing's 5.5% growth target for the year.

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