China has sufficient policy tools and will continue to adopt a series of measures to vitalize the market and economy, the country’s top economic regulator said.

Li Hui, deputy director of the Department of National Economy at the National Development and Reform Commission, said the country will closely monitor the economic situation, introduce relevant policies in a timely manner and promote the implementation of those policies to hedge against the novel coronavirus epidemic’s impact.

“China is ramping up efforts to minimize the epidemic’s impact and create a comprehensively well-off society,” Li told a news conference on Tuesday.

“After taking a series of effective measures, the spread of the coronavirus has been basically curbed in China. And we’ve made sustained progress in epidemic prevention and control, which provides strong support for the economy returning back to normal.”

Li added entrepreneurs’ confidence in the economy is holding steady and the international community also has full confidence in Chinese economic development.

Last month, International Monetary Fund managing director Kristalina Georgieva said China’s economy is expected to “return to normal in the second quarter” of 2020 due to the government’s effective measures.

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