Stronger Policy

The People’s Bank of China (PBC) on June 27 vowed stronger macroeconomic policy adjustment as well as better fiscal, monetary, and employment policy coordination and implementation to counter the impact of the novel coronavirus disease (COVID-19) pandemic on economic growth.

The country will pursue a prudent monetary policy in a more flexible and appropriate way, and attach greater importance to boosting the real economy and sustainable development, the PBC said in a statement released after a quarterly meeting of its monetary policy committee.

The country’s economic growth faces challenges as the situation

new round of reform.

However, the report warned that instead of supply chain disruption, weak demand has become the greatest obstacle to China’s economic recovery. It urged efforts to fully expand domestic demand and restore the regular market cycle.

The CMF also noted other risks and challenges such as uncertainties in the development of the pandemic, the complicated external environment, obstruction in policy transmission and a slowdown in potential growth.

Liu Xiaoguang, a researcher with Renmin University of China, one of the sponsors of the forum, suggested that rather than short-term quantitative goals, China’s economic policies should focus on mid- and long-term structural changes to facilitate future economic prospects.

Engineering Construction Corp. (CCECC) for a commuter tram serving the capital Bogota and its outlying areas.

Colombian President Ivan Duque was present when the representatives of the two companies signed the contract for construction to begin on the West Regiotram, which will connect communities in Cundinamarca, where Bogota is located, with the capital.

Duque called the signing a “historical event” that marked “the beginning of the dream that for years Cundinamarca has yearned for, which will improve the quality of life, open up opportunities and is moving forward in the midst of the COVID-19 pandemic.”

The electric-powered tram will connect Bogota with Funza, Mosquera, Madrid and Facatativa, communities to the west of the capital.

The project will benefit the over 11 million residents of Bogota and its surrounding areas, serving more than 130,000 passengers a day.