China has tabled a series of measures aimed at saving the economy but international observers noted that compared to 2009’s economic stimulus package, this round of economic measures are not as strong yet still surpass market anticipation, according to a report by Bloomberg.
At the Communist Party’s top-level meeting on 26 September, the Chinese authority kickstarted plans to strengthen the country’s economy on all sides.
The measures are estimated to raise China’s economic growth by 0.2%, and have subsided market worries that the economic giant might not be able to reach the projected 5% economic growth.
Nevertheless, some analysts feel that the measures might be short-lived and the results attained “weak”.
As reported, the joint efforts by the People’s Bank of China, National Financial Regulatory Administration and China Securities Regulatory Commission target to boost the Mainland and Hong Kong SAR stock markets and attract foreign investment funds.
The Chinese capitalists seem to welcome the outcome of the meeting.
On the meeting sideline, China’s Finance Ministry is said to harbour plan to issue 2 trillion yuan of special government debt instruments in 2024.
