‘Soft’ stim­u­lus mea­sures taken to achieve growth

China Daily (Canada) - - NEWSCAPSULE -

The Chi­nese govern­ment has de­cided to take “soft” stim­u­lus mea­sures, in­clud­ing the ren­o­va­tion of run­down ur­ban ar­eas, rail­way con­struc­tion and pref­er­en­tial tax poli­cies for more small com­pa­nies to sup­port growth.

Pre­mier Li Ke q i ang an­nounced the mea­sures on Wed­nes­day at a State Coun­cil ex­ec­u­tive meet­ing.

The govern­ment said it will is­sue bonds worth 150 bil­lion yuan ($24 bil­lion) to fi­nance rail­ways con­struc­tion this year. It also will es­tab­lish a spe­cial in­sti­tu­tion un­der the China De­vel­op­ment Bank to is­sue spe­cial bonds to fi­nance govern­ment-sub­si­dized hous­ing projects.

The Na­tional Bureau of Sta­tis­tics and the China Fed­er­a­tion of Lo­gis­tics and Pur­chas­ing re­ported that the non-man­u­fac­tur­ing Pur­chas­ing Man­agers’ In­dex in March fell slightly to 54.4 from 55 in Fe­bru­ary, mainly be­cause of a slow­down of growth in new or­ders.

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