- To hold 4th plenum in October
- Calls to implement more proactive fiscal policy
- Will improve policy flexibility and foreseeability
- To keep policy continuity and stability in order to expand upwards momentum of the economy
- Will make efforts in stabilising jobs, businesses, markets and expectations
- Necessary to effectively release potential of domestic demand
- To implement special action to boost consumption
- Must stabilise fundamentals of trade and foreign investment
- To resolve local government debt risks
- Will promote governance of production capacity in key industries
As is typically the case, the remarks here are all high-level commentary more than any detailed measures. All in all, it reaffirms their existing policy path for the most part but more importantly it also reaffirms their resolve to try and revive domestic demand especially. Other than that, the continued focus on consumption and mention of addressing overcapacity in some emerging industries will help to ease concerns among investors at least.
This article was written by Justin Low at investinglive.com.
