Policy makers have stepped up pro-growth measures, including a cut in the cash that banks must hold as reserves, more tax breaks for small and medium-sized enterprises, and faster approval and construction of infrastructure projects.
Authorities also unveiled new measures in September to further tap the country's residential consumption potential, with specific measures outlined to upgrade consumption.
Such measures, together with a revised individual income tax law, which lowers the tax burden for middle- and lower-income households, will help steady consumption growth in Q4, the Bank of Communications report said.
"As policies gradually get implemented, consumer demand has much room for further expansion," it noted.
Yan Se, an associate professor with the Guanghua School of Management at Peking University, said in addition to the policy measures to support consumption and infrastructure investment, the central government has notable flexibility in applying fiscal and monetary tools to keep the economy stable amid global fluctuations.
China's economy may seem to be in some difficulties from a short-term perspective or being viewed through specific cases. However, its development prospects are very bright when being judged from a historical perspective, Liu said.
"We will continue to implement the proactive fiscal policy, prudent monetary policy, explicit industrial investment policies, and more inclusive and sustainable social policies to further implement the core policy of supply-side structural reform," he said.
【国内英语资讯:Economic Watch: China able to cope with economic challenges: experts】相关文章:
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