Real economy to get greater policy boost
1 2021-07-09 08:39:51China Daily
Editor : Li Yan
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An employee polishes steel products at a Baowu Steel production facility in Maanshan, Anhui province, on March 5. (LUO JISHENG/FOR CHINA DAILY)
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China has stepped up policy support to spur economic growth and help vulnerable smaller and private businesses, as policymakers consider channeling more funds into the market by cutting the reserve requirement ratio for financial institutions.
The country will adopt monetary tools such as cutting the RRR, which is the cash amount that financial institutions are required to deposit in the central bank, to increase the financial support for the real economy, according to a State Council executive meeting chaired by Premier Li Keqiang on Wednesday.
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Economists stress H2 financial policies By CHEN JIA | CHINA DAILY | Updated: 2021-07-08 09:01 A technician works on the production line of LNG containers at a plant in Lianyungang, Jiangsu province. [Photo by GENG YUHE/FOR CHINA DAILY]
Financial policies should sustain economic recovery and contain risks to financial stability in the second half of this year, to avoid sharp regulatory tightening, economists said on Wednesday.
Since the so-called retaliatory rebound in consumption and robust exports are expected to cool down a bit in the second half, China s economic growth is likely to moderate after a rapid first-half recovery. This would require financial regulators to avoid sudden policy tightening or abrupt measures, they said.