China aims to increase investment in equipment by more than 25% between 2023 and 2027, which is expected to create significant annual spending on equipment and consumer goods. Analysts remain skeptical about reaching the goal without additional stimulus.
China 's latest policy to boost demand will soon have a greater effect on growth, a top official at the economic planning agency told reporters Thursday.
BEIJING — China's latest policy to boost demand will soon have a greater effect on growth, a top official at the economic planning agency told reporters Thursday.That's officially expected to create well over 5 trillion yuan in annual spending on equipment, and unspecified"trillions" for consumer goods such as cars and home appliances.this year, after an increase of 5.2% last year. Analysts have been skeptical the country can reach its goal without additional stimulus.
In terms of fiscal funding for those upgrades, Zhao said the central government would provide"strong support." While it's difficult to quantitatively assess the impact of these different announcements, JLL's Pang said,"it reflects a good start" for Beijing's efforts to improve policy coordination among the many government ministries. That's according to a CNBC translation of his remarks in Chinese.
China Policy Boost Demand Growth Investment Equipment Consumer Goods Stimulus
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