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Oil prices climbed on Thursday.
The West Texas Intermediate for February delivery gained 1.77 U.S. dollars, or 3.16 percent, to settle at 57.76 dollars a barrel on the New York Mercantile Exchange. Brent crude for March delivery added 2.03 dollars, or 3.39 percent, to settle at 61.99 dollars a barrel on the London ICE Futures Exchange.
Crude futures settle higher
Chinese Premier Li Qiang on Friday chaired a State Council executive meeting during which arrangements were made to implement a package of policies that will boost domestic demand by leveraging coordinated fiscal and financial measures.
The meeting noted that the package is an important measure to expand effective demand and innovate the approaches of macro-control.
Efforts should be made to refine loan interest subsidy policies for businesses in the services sector and personal consumption, aiming to expand the supply of high-quality services and boost household purchasing power, the meeting said.
It said that loan interest subsidy policies will be implemented for micro, small and medium-sized enterprises, with an eye to bolstering private investment, and to lowering financing thresholds and costs for companies.
It stressed that basic public services should be provided based on an individual's place of permanent residence. Efforts will be made to address the most pressing concerns of permanent residents without a local household registration, and on improving their access to education, healthcare and employment services.
Chinese premier stresses coordination of fiscal, financial policies to boost demand
