China has announced a series of measures to protect its economy and workers against the impact of a business war for intensification with the United States on Monday, as officials said it remained “fully confident” to achieve the country’s annual economic growth objective of around 5%.
“We still have many political reservations and many political spaces,” said Zhao Chenxin, deputy chief of the National Development and Reform Commission, the country’s first economic planning body, during a press conference.
“No matter how the evolution of the international situation, we will remain focused on our development objectives … and we focus on managing our own business. We are fully confident in the achievement of this year’s economic and social development objectives. ”
Beijing will encourage companies to maintain stable hiring, to intensify vocational training programs, to expand employment through public works programs and other support projects and to strengthen public employment services, according to Zhao.
Zhao added that the government intensified efforts to implement policies announced previously, such as a regime to stimulate consumption and a decision to set up a venture capital orientation fund – policies likely to take full effect in the second quarter.
