Explainer | What new moves did China make on the economic stimulus front last week?
President, premier and central bank chief among those dispensing clues to the next developments in China’s economic stimulus
Starting with the release of a heavyweight package of monetary policies in late September, China has rolled out a series of stimulus measures to counter economic challenges and achieve this year’s goal of economic growth of “around 5 per cent”.
The past week saw new developments addressing key issues such as local debt risks and the struggling property sector.
Here are the highlights, starting with the most recent moves:
October 18 – State Council pushes ahead with formation of unified domestic market
At a cabinet meeting on Friday, Premier Li Qiang said the construction of a unified domestic market should be aligned with recently released incremental policies.
The Communist Party mouthpiece People’s Daily said the meeting resolved that “local governments should take firm action to eliminate regional protectionism and market segmentation, address obstacles to economic circulation, and facilitate the smooth and extensive flow of goods, factors of production and resources”.
The meeting also approved a draft revision of the fisheries law, which will be submitted to the Standing Committee of the National People’s Congress for review.
It also studied other issues, but the State Council did not elaborate on them in a summary released online.
