Beij
By intensifying efforts to recover her economy, the China is planning New targeted support measures for them business affected by ”duty war»With them United States. At the same time, large investment houses are downgrading the forecasts for Chinese GDP while the Beijing remains committed to target for 5% growth.
In particular, as the Cnbca clear message of determination sent Beijing on Friday through a meeting of China’s Political Bureau, under his chairmanship Si Jingto support businesses that are in difficulty due to ‘increased external vibration’, that is, the scalable trade war with the US.
The meeting comes a few days after the imposition of new duties of more than 100% between Beijing and Washington, which have already led significant US banks, such as Morgan Stanley and the JP Morgan, to a lower review of China’s growth rate in 2025.
According to the official announcement, the Chinese government will proceed with “multiple support measures”, such as financial support, interest rate reduction and a reduction in the index of the banks’ mandatory reserves.
The economist Jiyy Zhanghead of it Pinpoint Asset ManagementHe noted that “the message shows that Beijing is ready to activate new tools when the economy is affected by external pressure”, while stressing that a massive support package is not expected immediately.
At the same time, the authorities emphasize the enhancement of consumption and the improvement of middle and lower strata incomes, and the development of technology is also promoted, with an emphasis on integrating artificial intelligence into economic activity.
In a rare move, the government had already increased the deficit target of 4% of GDP in March, giving a clear indication of further fiscal flexibility. At the same time, local governments and large companies have already begun moves to redirect their exports to the domestic market.
In the markets, the Index CSI 300 her Shangular fell instantaneously while the Hang SENG index of Hong Kong He limited his profits after the announcement was made public.
It is noted that the Standing Committee of the National People’s Congress is expected to meet from Sunday to Wednesday, where a new private initiative bill will be considered as part of the wider effort to strengthen the business climate in the country.
Source: Skai
I am Janice Wiggins, and I am an author at News Bulletin 247, and I mostly cover economy news. I have a lot of experience in this field, and I know how to get the information that people need. I am a very reliable source, and I always make sure that my readers can trust me.