Economy a Test for Lawmakers

Speculation abounds over economic developments in the second half of 2020. Meanwhile, the world is paying attention to whether China’s GDP and per-capita income will double that of 2010 at a time when Covid-19 is expected to linger for a long time. Since early 2020, the central and local governments have issued more than 100 stimulus policies to bolster economic growth, but there are still many challenges to resume work, boost markets and create job opportunities. The services industry has been worst-hit, and China’s foreign trade has encountered unprecedented difficulties. It will be a test of policymakers’ wisdom to release more ambitious proactive fiscal policies and prudent monetary policies to release the potential of consumption and safeguard the livelihoods of the public.