China Must Reassure Confidence after Slower Q3 GDP Growth: Times

China should adjust its monetary and fiscal policies to help businesses with funding shortages and revive industrial production, after its reported Q3 GDP fell short of expectations, the Global Times said in an editorial. The weak indicators showed many businesses are in trouble and people's incomes have fallen, the state-run newspaper said. Private businesses' confidence in China was shaken, as they interpreted the government's slew of "macro-control" measures to be "changing course," the newspaper said. Society should be convinced that the government stays committed to speeding up economic development, it said. Infrastructure investment in Q1-Q3 grew by only 1.5% y/y, considered negative after adjusting for inflation, so the major projects during the 14th Five-Year Plan should be accelerated, the Global Times said.