China loosens purse strings to boost demand as economic conference ends
By Frank Chen
China’s leaders pledged on Thursday to open the country’s coffers wider to provide a much-needed jolt to domestic demand, according to a statement issued after the central economic work conference – a high-profile agenda-setting meeting held annually in Beijing.
This would be accomplished, they said, by raising the fiscal deficit ratio and increasing the issuance of treasury bonds in the coming year.
The world’s second-largest economy must complete the tasks set out for 2021 to 2025 in a “high-quality” way, state broadcaster CCTV reported, citing the document released following the closed-door conference’s conclusion.
“For the next year, China needs to keep steady economic growth, maintain the overall stability of job and price levels, as well as safeguard the basic balance of international payments,” the CCTV report said.
Authorities should cut interest rates and the reserve requirement ratio in a timely manner, it added.
via SCMP Full Text Feed
By Frank Chen
China’s leaders pledged on Thursday to open the country’s coffers wider to provide a much-needed jolt to domestic demand, according to a statement issued after the central economic work conference – a high-profile agenda-setting meeting held annually in Beijing.
This would be accomplished, they said, by raising the fiscal deficit ratio and increasing the issuance of treasury bonds in the coming year.
The world’s second-largest economy must complete the tasks set out for 2021 to 2025 in a “high-quality” way, state broadcaster CCTV reported, citing the document released following the closed-door conference’s conclusion.
“For the next year, China needs to keep steady economic growth, maintain the overall stability of job and price levels, as well as safeguard the basic balance of international payments,” the CCTV report said.
Authorities should cut interest rates and the reserve requirement ratio in a timely manner, it added.
via SCMP Full Text Feed
