Are you curious about the latest economic developments in China? Well, our team at Extreme Investor Network has got you covered with all the key highlights from the recent press conference held by China’s National Development and Reform Commission.
During the highly-anticipated press conference, the chairman of the NDRC, Zheng Shanjie, unveiled a series of actions to help strengthen China’s economy. One of the key points mentioned was the acceleration of special purpose bond issuance to local governments to support regional economic growth.
But despite these measures, the lack of any major new stimulus plans disappointed investors, leading to a weakening of the mainland Chinese markets’ rally. However, there was some positive news as well – Zheng announced the deployment of ultra-long special sovereign bonds totaling 1 trillion yuan to fund local projects, with plans to continue issuing these bonds next year.
In addition, the central government is set to release a 100 billion yuan investment plan for next year ahead of schedule. Zheng also hinted at more forthcoming measures aimed at supporting the property market and boosting domestic spending.
This news comes at a crucial time for China as it seeks to combat a prolonged economic downturn. In the face of disappointing economic data and a sluggish recovery from Covid-19 lockdowns, the government has signaled a sense of urgency to meet its growth target of “around 5%.”
Stay tuned to Extreme Investor Network for more updates on China’s economic developments and how they could impact your investment strategy. With expert analysis and exclusive insights, we bring you the latest news that matters to investors like you. Keep checking back for more detailed analysis and in-depth coverage of the financial landscape in China and beyond.