Support Of Economy To Be Stepped Up: State Planner

China has the confidence, condition, and ability to keep economic growth at a reasonable level, a senior state planning official told the Xinhua News Agency.

The world's second-largest economy faces multiple challenges heading into 2022, as a property downturn and strict COVID-19 curbs in some areas have hit consumer spending.

To improve people's expectations, China will step up government spending, strengthen support to manufacturers and small companies, and ensure price stability, Ning Jizhe, deputy head of the National Development and Reform Commission (NDRC) said in an interview with Xinhua published on Wednesday.

China will also work to stabilise industry supply chains, focus on solving chip shortage issues, and step up monitoring of commodity prices, said Ning, also head of the National Bureau of Statistics.

To aid economic growth, China will continue to implement proactive fiscal policies, step up efforts to build an integral domestic market, while further shorten the "negative list" regarding foreign investment, Xinhua quoted Ning as saying.

In addition, China will combine cross-cyclical and counter-cyclical measures to prevent wild economic volatility, Ning said. (Reuters)