Global EditionASIA 中文双语Français
China Daily / 2023-06 / 21 / Page013

Latest cut suggests more support

By ZHOU LANXU and OUYANG SHIJIA | China Daily | Updated: 2023-06-21 00:00

Expert: Sensible to avoid 'following old path' of relying on infrastructure

Additional stimulus measures are needed to consolidate China's economic recovery following an interest rate cut on Tuesday, and such moves should be compatible with the country's high-quality development pursuit and avoid any worsening of the economic structure, experts said.

"The economy needs an appropriate amount of stimulus at this moment as growth momentum weakens. The more important question is how the stimulus is delivered," said Shao Yu, chief economist at Orient Securities.

It is sensible to avoid "following the old path" of mainly stimulating infrastructure investment and the property market, which can stabilize the economy over the short term but could have long-term side effects of impeding economic restructuring, said Shao, who is also an expert member of the monetary policy committee of the People's Bank of China, the nation's central bank.

Report cites rights progress in Tibet

Most Viewed

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US