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MNI China Press Digest Apr 7: Monetary Policy, Growth

MNI (Singapore)
BEIJING (MNI)

The following lists highlights from Chinese press reports on Thursday:

  • China’s economy faces greater downward pressure with complex uncertainties that are greater than expected, Xinhua News Agency said following a meeting of the State Council on Wednesday chaired by Premier Li Keqiang. China should flexibly use refinancing and other monetary tools at the right time to boost support for the real economy, including greater monetary policy impact, keeping liquidity reasonable and increasing loans to small businesses, Xinhua said. China will also increase support for those businesses in difficulty, such as those in retail and tourism, including postponing their endowment insurance payments in the second quarter, as well as increasing assistance for the unemployed, Xinhua said.
  • China's key to dealing with its economic headwinds is promoting large projects and vigorously helping enterprises in difficulties, China Securities Journal said citing policy intentions given by the National Development and Reform Commission. Q1 growth is likely to be dragged down by increasing internal and external risks and challenges, the newspaper said. Infrastructure investment, which will be the biggest growth driver this year, is expected to expand by 5-7%, the newspaper said citing analysts. The central bank is still likely to cut interest rates and inject more liquidity via medium-term lending facilities, the newspaper said. Real estate policies will also be optimized in accordance with different cities, it said.
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