Econ­omy con­tin­ues loss of mo­men­tum

China Daily (Canada) - - FRONT PAGE -

China’s in­vest­ment growth rate sank to its low­est in nearly 15 years as April data showed the world’s sec­ond- largest econ­omy still los­ing mo­men­tum de­spite a con­cen­trated burst of pol­icy eas­ing mea­sures this year.

China’s cen­tral bank is ex­pected to fol­low this week’s in­ter­est rate cut with more stim­u­lus in com­ing months, and the gov­ern­ment may step up spend­ing to try to spark the econ­omy, which looks set for its worst year in 25 years.

With the of­fi­cial growth tar­get of around 7 per­cent for the year look­ing in­creas­ingly at risk, and some pun­dits even rais­ing fears of a hard land­ing, au­thor­i­ties may opt for more ag­gres­sive mea­sures to head off job losses and debt de­faults by lo­cal gov­ern­ments and com­pa­nies.

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