China policymakers vow to study incremental economic measures
CHINESE policymakers will study new incremental economic policies in a “timely manner” and listen to opinions from all sides to build consensus and confidence, according to a speech by Premier Li Qiang that was reported by China Central Television (CCTV).
Speaking at a State Council meeting on Sunday (Sep 29), Li also said government agencies will accelerate the pace of implementing policies that have been set and address prominent issues in economic operations as they strive to meet annual goals, CCTV reported.
In the meeting, the measures to accelerate implementing 102 major projects – as introduced in the government’s five-year development plan – were also discussed, including consolidating responsibilities and strengthening departmental coordination, the report said.
Li’s comments come days after the Chinese government’s release of a barrage of stimulus measures to revive the country’s economic growth. The initiatives helped boost investors’ sentiment last week, resulting in a stock market rally.
The government “needs to listen to opinions from all sides, and continuously optimise and improve policy measures”, Li said.
In a separate statement on Sunday, the People’s Bank of China (PBOC) said that “it is necessary to implement prudent monetary policy accurately and effectively and pay more attention to countercyclical adjustments”.
The PBOC also reiterated its plans to lower existing mortgage interest rates and promote the “stable and healthy development” of the real estate market. BLOOMBERG
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