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Economists surprised by extent of fiscal measures to bolster Chinese economy
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At the opening of China's national parliament on March 5, Chinese Premier Li Keqiang unveiled a stimulus package that involved cutting trillions of yuan in taxes and fees, stepping up infrastructure spending and increasing loans to small firms.
PHOTO: AFP
Chong Koh Ping
BEIJING - China has cut its growth target for this year to between 6 per cent and 6.5 per cent as the economy expands at the slowest pace in nearly three decades.
While it was widely expected that the country would roll out more stimulus to prop up the economy, economists told The Straits Times that they were surprised at the extent of what Beijing was prepared to do.
