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May 27, 2022

China holds an unprecedented, massive videoconference on the economy

  • “The difficulties, in some areas and to a certain degree, are even greater than the severe shock of the pandemic in 2020,” Premier Li Keqiang said during a nationwide videoconference Wednesday, according to a CNBC translation of a Chinese-language state media report.
  • A state media news broadcast Wednesday showed large conference rooms of people from different provinces tuning into the meeting.
  • There hasn’t been such a meeting of this scale for years, and it’s unprecedented for one meeting to address so many levels of government at once, said Zong Liang, chief researcher at the Bank of China.

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