Nation still on track to meet 2020 economic goals

China is on track to meet the economic and social goals set for this year despite the novel coronavirus outbreak, thanks to effective countermeasures and strong economic resilience, the country’s top economic planner said on Monday.

"There is still ample development potential and policy reserve," Cong Liang, secretary-general of the National Development and Reform Commission, said at a news briefing on Monday.

Policymakers will strengthen monitoring over the economy, roll out more countermeasures in a timely fashion and implement stronger macro-adjustments, Cong said, adding the country will step up investments to redress weak links revealed by the epidemic, such as social governance and public health and emergency facilities.

"By actively expanding domestic effective demand and ramping up policy measures to counter the impacts, the country is capable of fulfilling all the goals of economic and social development for 2020," Cong said.

Countermeasures already in place such as facilitating orderly work resumption, implementing tax and fee cuts and ramping up financial support will ease difficulties faced by small and medium-sized enterprises and other businesses and help the economy run healthily while ensuring epidemic control, Cong said.

Solid fundamentals will also help the economy withstand the disruptions, as many pent-up consumption activities will rebound after the epidemic ends, and sectors like online shopping, education and entertainment, telecommuting, and smart manufacturing have grown rapidly amid the epidemic, he added.