China's XI vows 'more forceful' tools to achieve this year's economic targets.

Chinese President Xi Jinping made a rare statement Wednesday about his country's aims to achieve its economic goals for the year. Investment analysts have cut their forecasts for China's GDP growth to well below the official target after stringent Covid controls restricted business activity in the last few months. Government stimulus has been relatively muted so far. "We will step up macroeconomic policy adjustment, and adopt more forceful measures to deliver the economic and social development goals for the whole year and minimize the impact of COVID-19," Xi said Wednesday, according to an English-language state media readout. He did not share details on what kind of measures would be used to support growth. Rather than "more forceful," Chinese text of the speech published by state media described forthcoming measures as "more effective," according to a CNBC translation.

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