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Budget Speech

Seeking Progress While Maintaining Stability

48. The world is undergoing a change unseen in a century.  In recent years, Western countries have been trying to suppress our country's development.  The COVID-19 pandemic has dealt a severe blow to the global supply chains, further heightening protectionism.  In the past two years, governments of many countries have raised debts of massive scale, and central banks have implemented extremely accommodative monetary policies, greatly increasing macroeconomic and financial market vulnerabilities. We need to stay highly vigilant at all times, better connect with the international market under the premise that risks are well managed, thereby striving for progress while maintaining stability.  We also have to use development to enhance our ability to cope with risks, so as to promote stability with progress.



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