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More Support Expected as China Implements Measures to Boost Faltering Economy: Factbox


Sep 1, 2023

China has implemented various policy measures in recent months to revive its stumbling economy, which has experienced weakened demand and a deepening property crisis. However, analysts do not expect aggressive stimulus measures due to concerns about debt and financial risks. China has set a modest economic growth target of around 5% for this year. To support the economy, China has taken actions such as relaxing home-purchase restrictions, lowering borrowing rules for homebuyers, allowing preferential loans for first-home purchases, and approving guidelines for affordable housing planning and construction. China has also implemented tax relief measures for small businesses and rural households and issued policies to boost consumption in sectors like automobiles, real estate, and services. Additionally, China has pledged support for the private economy, approved measures to boost infrastructure investment, and increased relending quotas to support the farm sector and small firms. China’s central bank has also cut lending benchmarks and the loan prime rate to stimulate the economy. Overall, China continues to implement policy support measures to stabilize its economy and promote growth.

By Editor

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