Bold measures to rev up Chinese economy

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CHINA's economy will likely pick up pace in the fourth quarter amid a slew of bolder-than-expected stimulus measures, providing strong support for achieving its annual growth target of around 5 percent this year, economists said.

Despite facing challenges, China's economy will continue to recover with a series of stimulus policies taking effect gradually, including the use of funds for promoting trade-in programs for consumer goods, said Huang Hanquan, head of the Chinese Academy of Macroeconomic Research.

Given China's current low price levels, Wang said he expects the annual CPI increase will be significantly lower than the preset growth target of around 3 percent, and PPI will continue its negative growth pattern.

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Category: EconomyBusiness

Markets: MalaysiaChina

Topics: Economy Interest rate Industrial /Business/Business News Stimulus PBOC Economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-14 @ 14:05:00 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 1262 words

Reading Time: 8 minutes read

Sentences: 40 lines

Sentence Length: 32 words per sentence (average)

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Copyright Owner: © The Star

News ID: 23031092

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