Chinese officials host an emergency meeting to revive economy

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Hong Kong (CNN Business)China’s cabinet held an emergency meeting with more than 100,000 participants on Wednesday, according to state media, as top leaders urged new measures to stabilize an economy battered by the country’s stringent Covid-19 restrictions.

The unexpected video teleconference by the State Council was attended by officials across provincial, city and council levels, according to a report in the government-owned Global Times. High-ranking Chinese officials were also present, including Premier Li Keqiang, who urged authorities to take action in sustaining jobs and reducing unemployment.
The world’s second-largest economy has suffered across various sectors since a Covid wave spread in March, prompting lockdown measures in many major cities — most notably the financial hub Shanghai, where many have been unable to leave their homes or neighborhoods for a month and a half.

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www.cnn.com/2022/05/26/business/china-state-council-economic-meeting-intl-hnk/index.html

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