HK press report China will not introduce another “giant stimulus programme”

Author: Eamonn Sheridan | Category: News

South China Morning Post with a piece on remarks from the head of the Chinese Academy of Fiscal Sciences.

The issues facing China include the ongoing trade war with the United States, which is a negative for the external sector of economy, and also a slowing domestically.
Liu Shangxi
  • "We will not introduce another giant economic stimulus programme for the problem we are faced with now … it is different from the problems in 2008"
  • "Though the stimulus programme was a necessity back in 2008, we need to admit that it caused overcapacity and low quality goods" 
Instead, measures will include:
  • tax reductions 
  • budget management reform
--
Chinese Academy of Fiscal Sciences is a think tank under the Ministry of Finance that advises Beijing on fiscal policy.

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