Chinese President urges infrastructure push to boost growth
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China's Xi Jinping calls for an all-out campaign to build infrastructure.
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Chinese President Xi Jinping delivering his 2022 New Year address (CCTV)
According to Chinese state media, China's President stressed the importance of a comprehensive revamping of infrastructure in order to strengthen and modernize it.
President Xi Jinping made these remarks at the 11th meeting of the Central Committee for Financial and Economic Affairs (CCFEA).
Stressing the importance of infrastructure in economic and social development, Xi called for a balancing of both development and security, noting that China's "infrastructure is still incompatible with the demand for national development and security."
The Chinese President also noted the importance of strengthening the construction of network infrastructure, such as transportation, energy, and water conservancy and speeding up the construction of a comprehensive transport network like airports, ports, and inland waterways.
Recent lockdowns in China, particularly those in the economic powerhouses of Shanghai and Shenzhen, have disrupted supply chains and transport networks. The country still remains adamant about pursuing strict zero-Covid policies that involve lockdowns and mass testing in the biggest cities.
These measures have hurt business morale and sent shockwaves through the global economy.
