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Economic slowdown: China urges push to boost sluggish economy

Economic slowdown: China urges push to boost sluggish economy

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China's premier has called on the country's richest provinces to offer economic support to boost pro-growth measures.

The country saw consumption and output unexpectedly slow down in July.

"A sense of urgency must be strengthened to consolidate the foundation for economic recovery," Premier Li Keqiang said.

An uncompromising zero-Covid approach sharply slowed China's economic growth in the second quarter of this year.

In a rare move, China's central bank cut lending rates on Monday to revive demand.

The government will take more steps to boost consumption and expand effective investment, Mr Li added.

China, the world's second largest economy, has been badly hit by widespread coronavirus lockdowns that have affected both businesses and consumers.

Gross domestic product (GDP) fell by 2.6% in the three months to the end of June from the previous quarter.