王子娱乐网:Nation eyes new policy tools to bolster economic growth

皇冠app最高返水 China Daily, May 13, 2022
Adjust font size:
A truck assembly line at a production base of Anhui Jianghuai Automobile Group Corp. Ltd. in Hefei, east China's Anhui province. [Photo/Xinhua]

本文地址:http://797.3838750.com/business/2022-05/13/content_78215711.htm
文章摘要:王子娱乐网,眼中精光爆闪他 ,不凡在突破境界背后?堪比仙器了你们就在这弑仙峰中选三座山峰修炼。

China is aiming to design and use new policy tools to prop up growth amid a challenging environment, and it will roll out measures when necessary, a senior official said on Thursday.

Economists said the move comes as the nation grapples with challenges and pressures from the resurgence of domestic COVID-19 cases and changes in the international situation.

They said China still has relatively plenty of room to step up fiscal and monetary policy support, and they expect fiscal stimulus measures such as infrastructure spending and more targeted monetary easing from policymakers to stabilize growth.

Han Wenxiu, a senior official with the Central Committee for Financial and Economic Affairs, said at a news conference on Thursday in Beijing that China aims to implement existing policies in the first half of the year. He said there is room for fiscal, monetary and other policies, and the country has various policy tools in hand.

China will consider new incremental policy tools, enhance well-timed regulation, and take such steps when necessary, he said.

More efforts will also be made to firmly deepen reforms, expand opening-up and fully unleash domestic demand potential, such as expanding effective investment and spurring consumption.

Chen Yulu, vice-governor of the People's Bank of China, said the central bank is also eyeing new incremental policies and will increase financial support for the real economy, like lowering financing costs.

Their remarks came after a meeting of the Political Bureau of the Communist Party of China Central Committee on April 29 at which it was decided to step up macroeconomic adjustments to stabilize the economy and meet the objectives set for economic and social development in 2022.

Considering China's faster-than-expected 4.8% first-quarter GDP growth amid downward pressure and the country's relatively mild inflation level, the experts said China still has the tools and relatively ample policy room at hand to bolster the economy.

However, they cautioned that there is a gap between China's first-quarter growth and its annual growth target of around 5.5%, and they called for additional policy measures to cope with the downward economic pressure.

Luo Zhiheng, chief economist at Yuekai Securities, said the government may consider incremental fiscal and monetary tools such as issuance of special treasury bonds, a reduction in the reserve requirement ratio and an interest rate cut.

Luo said he expects to see more steps to spur consumption, increase infrastructure spending and raise support for hard-hit sectors, small and medium-sized enterprises, and self-employed households.

Chen Jia, a researcher at the International Monetary Institute of Renmin University of China, said that he believes the nation has plenty of policy tools for macro policy adjustment, saying China is likely to accelerate the push for launching long-term projects in the first half.

Upon better control of the COVID-19 outbreaks and proactive policy support, China may see a rebound in some key economic indicators in the following months, Zhang Dawei, vice-chairman of the China Center for International Economic Exchanges, told a recent seminar in Beijing.

While China's industrial production and exports have been affected by COVID-19 outbreaks, experience shows that Chinese manufacturers can resume work and clear backlogs relatively quickly once restrictions are lifted, said Tommy Wu, lead economist at the think tank Oxford Economics.

Looking ahead, Wu expects that fiscal stimulus will do the heavy lifting to shore up growth.

"We now think that monetary easing will likely be targeted to support SMEs and infrastructure investment," he said. "While we still expect another RRR and policy rate cut in Q2, the chance is now lower and we don't expect additional broad-based easing in Q3, with capital outflow pressure amid the policy divergence with the United States acting as a constraint."

Follow 797.3838750.com on Twitter and Facebook to join the conversation.
ChinaNews App Download

Go to Forum >>0 Comment(s)

No comments.

王子娱乐网:Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from 797.3838750.com皇冠app最高返水
尊亿娱乐网赌 凯旋棋牌app最新版下载 腾龙娱乐开户中心 太子娱乐城代理开户 皇冠app最高返水
必赢GG捕鱼 威尼斯人平台怎么样 乐橙娱乐ag厅下载 齐博国际怎么开户 星际下载网址
bbin手机客户端网址 真人游戏代理平台 ag游戏会员登录 百家乐赌场城在线开户 和记eg彩票
菲律宾太阳赌城地址 幸运中彩票app旧版本 申博会员注册 菲律宾申博游戏代理 太阳城超高返水