Wall Street

China says it will take targeted steps to support the economy

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Reuters

BEIJING (Reuters) -China will broaden tax credit rebates, postpone social security payments and loan repayments, roll out new investment projects and take other steps to support the economy, the official Xinhua news agency quoted the cabinet as saying on Monday. Chinese policymakers have pledged to step up support for the world’s second-biggest economy, hit by COVID-19 outbreaks that have prompted stringent restrictions, disrupting supply chains and hitting production and consumption. China aims to bring its economic operations back onto a normal track with a package of targeted, forceful and …

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