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China Daily / 2023-09 / 18 / Page015

China still has tools to revitalize economy

By Li Xunlei | China Daily | Updated: 2023-09-18 00:00

China's real estate sector and equity markets have struggled this year, along with negative growth in exports from January to July and a number of economic indexes falling short of expectations. Therefore, investors have expected stronger policy steps to encourage economic expansion and rejuvenate property and the bourses.

A raft of measures has already been rolled out since the beginning of this year, which has helped stabilize economic growth, though the long-term effects are yet to be verified. Are there any other options available in the policy tool kit to revitalize the economy? Will more forceful policies be introduced in the final four months of the year?

China has frequently adopted countercyclical policies over the course of the past 10 years of slower economic growth. As a result, not only did it meet its goal of doubling household incomes by 2020, but it also successfully transformed its economy, putting new energy, electric vehicles and other emerging industries in a position of global leadership.

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