Chinese Premier Li Qiang on Tuesday called for strengthened coordination among different policies and departments to jointly advance high-quality development while presiding over a study session of the State Council in Beijing.
Emphasizing the consistency of macro policy orientations, Li called on all departments and regions to ensure the mutual connectivity and the inner unity of various policies to push for sustainable and sound economic and social development.
Li stressed the need to set goals based on the overall demand of economic and social development, urging efforts to make policies conducive to stabilizing growth and expectations under the economic downward pressure.
He called for strengthened synergy and complementarity of policy measures, and appropriate timing, pace and intensity in policy implementation, as well as standardized law enforcement and supervision concerned with enterprises.
Li said non-economic policies should be included into consistency evaluation of macro policy orientations.
Chinese premier highlights policy coordination for high-quality development
Chinese premier highlights policy coordination for high-quality development
Investors have been pricing in renewed geopolitical tensions in the Middle East, pushing crude futures to surge by over three percent on Thursday as the second round of U.S.-Iran talks remains at a standstill.
The West Texas Intermediate for June delivery increased by 3.11 percent to settle at 95.85 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery jumped by 3.10 percent to settle at 105.07 U.S. dollars a barrel on the London ICE Futures Exchange.
Data recently released by the U.S. Energy Information Administration (EIA) showed U.S. refined oil inventories, including gasoline, last week posted a far steeper drop than the market had expected.
The sharp decline indicates a shortfall in supply to meet downstream demand, contributing to Thursday's surge in oil prices.
U.S. President Donald Trump said Tuesday that he will extend the ceasefire with Iran at Pakistan's request, but did not specify an end date.
While the move is welcomed, it has yet to generate momentum for dialogue. Iran has made it clear that it will not engage in a new round of talks unless Trump lifts his blockade on ships entering and exiting Iranian ports in the Strait of Hormuz.
Crude futures surge by over 3 pct on Thursday amid stalled US-Iran talks
