Friday's key meeting called for more proactive fiscal measures with deficit spending such as issuing special government bonds to support the virus fight and increasing the issuance of local government bonds as well as raising the utilization efficiency of capital to help stabilize the economy.
In emphasizing the need to expand domestic demand, the meeting stressed the necessity to release the potential of consumption by stimulating consumer spending and increasing public spending as appropriate. It is also imperative to expand investment by way of renovating old and dilapidated residential areas, strengthening investment in traditional and new infrastructure to advance the upgrading of traditional industries, and boosting investment in emerging strategic industries.
Local governments' actions to roll out voucher programs, ensure employment and cut tax and fees could help households and businesses tide over difficulties, prop up domestic demand and keep the economic fundamentals steady, according to Zhang Bin, a senior researcher at China Finance 40 Forum.
According to the World Economic Outlook report recently released by the International Monetary Fund (IMF), China is expected to be one of the few major economies that could see economic expansion this year, while it projected the global economy would decline by 3 percent in 2020.
The country's domestic activity is expected to rebound and continue to recover in the second half of this year as the containment measures are withdrawn and policy support gains strength, said Kenneth Kang, deputy director of the Asia and Pacific Department at the IMF.
【国内英语资讯:Economic Watch: With key rate cuts, China ramps up stimulus to bolster economy】相关文章:
最新
2020-09-15
2020-09-15
2020-09-15
2020-09-15
2020-09-15
2020-09-15