Stimulus plan seen around 10 trln yuan

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CHINA's much-anticipated fiscal stimulus package could amount to somewhere around 10 trillion yuan ($1.4 trillion), which would represent reasonable and moderate funding to address the most immediate issues facing the world's second-largest economy, policy researchers and advisers said.

However, he emphasized that China should not rely solely on stimulus measures to revive the economy, warning of the potential for high inflation and an imbalance between the State-owned and private sectors that could result from overreliance on government spending.

Upon the recent bigger-than-expected policy stimulus announcement, Goldman Sachs has raised its forecast for China's real GDP growth from 4.7 percent to 4.9 percent this year and from 4.3 percent to 4.7 percent in 2025.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaSingapore

Topics: Economy Economy Yuan GDP /Business/Business News Stimulus

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-17 @ 15:48:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 692 words

Reading Time: 4 minutes read

Sentences: 17 lines

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Copyright Owner: © The Star

News ID: 23099761

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