Intensive stimulus urged to lift demand

Recent measures represent complete policy mix to tackle challenges

China's upcoming stimulus program may need to be one of greater intensity than the one initiated 10 years ago in order to revive the world's second-largest economy from a lingering downward spiral of insufficient aggregate demand, said an economist and national political adviser.

Zhang Bin, deputy director of the Chinese Academy of Social Sciences' Institute of World Economics and Politics, said China's latest policy package of countercyclical adjustments is aimed at boosting government and private spending to promote a robust recovery in overall income levels, without which there could be limited room for further lifting consumption.

Zhang added that the array of measures the country has introduced represent a comprehensive, complete policy mix to tackle the immediate challenge of lukewarm demand, and have strongly supported confidence and expectations.