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MNI BRIEF: China Looks At Fresh Policies To Stabilise Growth

SINGAPORE (MNI)

An official from the NDRC made the comments after disappointing economic indicators yesterday.

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China will increase cross-cycle policy design, introduce new policies, prevent major volatility and keep the economy operating within a reasonable range, said Li Hui, an official from the National Development and Reform Commission at a briefing on Thursday, after the August economic indicators released yesterday weakened more than expected.

China will accelerate the issuance and use of CNY3.65 trillion of local government special bonds throughout the year to promote major investment projects to ensure substantial work, said Li.

The PBOC will use multiple monetary policy tools to adjust liquidity flexibly and precisely, and help SMEs and industries facing difficult conditions to resume development, according to Li. Li added that the government will timely introduce some new supporting policies for companies after the expiration of the current preferential measures.