China signals more stimulus as economic slowdown worsens

Alanna Dominguez
16 Jan 2019, 10:57 GMT+10

China will strive to have a strong start on the economy in the first quarter as it signals authorities to come up with more stimulus measures to counter slowing growth in the economy
China, which is the world’s second largest economy, began to slow down in 2018
According to the NDRC vice chairman Liam Weiliang, the government’s top priority is to stabilize employment

BEIJING, China- China will strive to have a strong start to the economy in the first quarter as it tells authorities to come up with more stimulus measures to counter slowing growth in the economy, said the state planner on Tuesday.

According to Premier Li Keqiang, China attained its key 2018 targets and seeks to have a good start in the first quarter in order to establish conditions that will enable the country to meet this years goals.

In a statement, the National Development and Reform Commission (NDRC) said that China will strengthen the monitoring of its economic situation as well as enhance its reserve of economic policies.

China, which is the worlds second largest economy, began to slow down in 2018. This is after Chinese authorities came up with long-term structural adjustments to shift to a more gradual but sustainable growth course. A slowdown has also been influenced by the trade war between the U.S and China.

This trade war has mounted pressure on Chinas economy and even caused the most unexpected fall in exports in December. In order to double gross domestic product and incomes in 2020, a 6.2% annual growth is needed this year and in 2020.

According to the NDRC vice chairman Liam Weiliang, the governments top priority is to stabilize employment. He also added that China will speed up local government bond issuance and investment projects. He, however, said they will not resort to flood stimulus.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Japan Herald.

More Information

2 ℃

Tokyo

Asia Pacific

Section

Trump gets briefing on trade negotiations at Palm Beach retreat

PALM BEACH, Florida - U.S. President Donald Trump has been briefed on current discussions on trade, underway between the U.S., ...

Pressure on Trump and Kim Jong Un in upcoming summit

SEOUL, South Korea - The second summit between U.S. President Donald Trump and North Korean leader Kim Jong Un in ...

Japan extends support to Juan Guaido

Tokyo [Japan], Feb 19 (ANI): Japan has joined a growing list of countries who have extended support to Venezuela's National ...

Next round of US-China trade talks to take place on Feb 21-22

Beijing [China], Feb 19 (ANI): The seventh round of trade talks between China and the United States is slated to ...

Aero India: US seeks to deepen defence cooperation with India

Bengaluru (Karnataka) [India], Feb 18 (ANI): More than 100 US Department of Defence personnel will support the delegation of 28 ...

Rabada no longer No 1, Faf cracks Top 10

Cape Town - Australia fast bowler Sri Lanka sensation Perera hailed for Test-winning heroics Test hero and Sri Lanka batsman ...

Business

Section

Movie Review

The Thing (1982) [Blu-Ray]

Thing (1982)

Featured story

Ireland's Keywords Studios acquires Canada's Snowed In

DUBLIN, Ireland - Following its successful acquisition of Hollywood-based Blindlight, Irish video-gaming company Keywords Studios has now announced its latest accomplishment. Keywords r ...