Headlines from earlier were here: China to release measures to expand domestic demand ASAP
More now from Bloomberg:
A statement from the State Council (China’s cabinet) last night after a meeting:
- China will speed up construction projects and other measures to support economic growth after a slowdown in industrial output and investment boosted risks of missing a 7.5 percent expansion target for the year
- The nation will “seize the moment to roll out already-determined measures in expanding domestic demand and stabilizing growth”
- China will “accelerate preliminary work and construction on key investment projects with timely assignment of budgeted funds”
Bloomberg goes on to say that the statement signals that Premier Li Keqiang, who led the meeting, is concerned that the growth goal is becoming more difficult to reach
“Against the background of increasing downward pressure on growth, the pro-growth signals from the meeting are very timely and necessary,” Xu Gao, chief economist with Everbright Securities Co. in Beijing, said in a note. “Measures to stabilize growth will materialize gradually to cause a modest acceleration in growth,” wrote Xu, who formerly worked at the World Bank.
