China Prepares New Plan to Counter Slowing Economic Growth!
The government will also consider additional measures to stabilize the real estate market.
The Chinese government is preparing new support measures to counter the slowdown in economic growth. The government will also consider additional steps to stabilize the real estate market. A statement issued following a State Council meeting chaired by Premier Li Qiang said that new policy packages would be introduced to support economic growth. The government plans to use additional fiscal and credit resources to stimulate the economy.
In addition, the government plans to increase investment in innovation and technology, as well as expand lending to small businesses and the agricultural sector. Stabilizing the real estate market, protecting employment and increasing household incomes are also among the key priorities. China’s economy grew by 4.3% year-on-year in the second quarter. This figure is expected to remain below the government’s 4.5–5% target for the third quarter. Weak consumption and declining investment are putting pressure on economic growth.