New virus outbreak in Beijing highlights the lingering risks of economic activities being affected again. FMTNews
BEIJING: The fragile recovery in China’s economy is pointing to a long road back for the rest of the world too.
Those concerns will be compounded by news of an outbreak of virus cases in Beijing that has raised fears of a resurgence of the pandemic. “The lack of demand is the main problem for the Chinese economy right now,” Shen Jianguang, online retailer JD.com Inc’s chief economist, told Bloomberg Television.Policymakers in Beijing continued their cautious support. The People’s Bank of China supplied banks with 200 billion yuan in fresh liquidity Monday while letting some previous loans expire, leaving the financial system needing further injections if a looming cash crunch is to be avoided.
“We have greater confidence in our call for a V-shaped recovery, given recent upside surprises in growth data and policy action,” economists led by Chetan Ahya wrote in a mid-year outlook research note.
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