China boosts investor confidence with new stimulus measures, economic plans

Chinese Premier Li Qiang has announced plans for policymakers to explore new incremental economic strategies while actively engaging with diverse perspectives to build consensus and confidence in a bid to revitalise China's economy.

Chinese policymakers will explore new incremental economic measures in a "timely manner" while considering diverse perspectives to foster consensus and confidence, Caliber.Az reports via foreign media.

During a State Council meeting, Li emphasised the need for government agencies to expedite the implementation of established policies and tackle key issues affecting economic operations to achieve annual targets, as noted by CCTV. The meeting also addressed strategies to expedite the execution of 102 major projects outlined in the government’s five-year development plan, focusing on clarifying responsibilities and enhancing interdepartmental coordination.

Li's remarks followed the recent announcement of numerous stimulus measures aimed at revitalizing China's economic growth, which boosted investor sentiment and led to a stock market rally last week. "The government must heed opinions from all sides and continuously refine and enhance policy measures," Li remarked. 

Additionally, the People's Bank of China highlighted the importance of accurately implementing a prudent monetary policy and emphasized the need for countercyclical adjustments. The central bank also reiterated its commitment to lowering current mortgage interest rates and fostering the "stable and healthy development" of the real estate sector.

By Naila Huseynova