China’s State Council pledges to fully implement pro-growth policy, to releases details of 19 follow-up measures by end of Sept
MACRO POLICY & REGULATION
China’s State Council pledges to fully implement pro-growth policy, to releases details of 19 follow-up measures by end of Sept
MACRO POLICY & REGULATION

China’s State Council pledges to fully implement pro-growth policy, to releases details of 19 follow-up measures by end of Sept

 

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The State Council, China’s cabinet stressed the implementation of pro-growth policy measures to expand effective demand and consolidate the foundation for economic recovery.

Premier Li Keqiang said at a cabinet meeting that the package of 33 stabilization measures should be fully implemented, and details of the follow-up 19 measures announced last week should be finalized and released by early September.

The authority will guide commercial banks to provide medium- and long-term loans to key projects and equipment upgrading and to prop up the weak property market, China will also support rigid housing demand, the cabinet said.

“Local governments should have ‘one policy for one city’ to make good use of policy tools” and flexibly use the special loans for home delivery, state media quoted the cabinet meeting as saying.

The cabinet has also sent working groups to major provinces since late August to push forward the implementation of policies. Read more …