Chinese Communist Party to act to curb Covid-19 spread — state broadcaster
Feb. 12, 2020
SHANGHAI (Feb 12): China's ruling Communist Party said on Monday that it would take steps to halt the spread of the 2019 novel coronavirus (Covid-19) and counter the epidemic's economic impact, state broadcaster CCTV reported.
The Party's standing committee — its top decision-making body — said monetary policy would be flexible, and it would oversee the resumption of work among firms including state-owned enterprises, in an orderly way.
It would unveil phased, targeted tax and fee cuts and "pay attention" to issues of employment to avoid large-scale layoffs.
The state council, equivalent to China's cabinet, meanwhile said it would offer temporary support to firms by lowering loan rates.
Chinese policymakers have already implemented a series of measures to support the economy, since the Covid-19 outbreak began.
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