Beijing leaves experts wanting more action

Quick Summary:

SHANGHAI: China has moved to further ramp up support for the economy, promising more aid for the slumping property sector and indebted local governments.

Allowing local governments to swap their debt with cheaper loans will free up money for public services and encourage the authorities to spend more.

Larry Hu, head of China economics at Macquarie Group, said that China’s two-speed growth model in which it relies on manufacturing and exports to offset the property sector is “increasingly unsustainable”.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaSingapore

Topics: Fiscal policy Economy Consumption /Business/Business News Deflation

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-14 @ 00:00:00 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 1200 words

Reading Time: 7 minutes read

Sentences: 40 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 23026307

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

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Year Established: 1971

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