-
Advertorial
-
FOCUS
-
Guide
-
Lifestyle
-
Tech and Vogue
-
TechandScience
-
CHTF Special
-
Nanshan
-
Futian Today
-
Hit Bravo
-
Special Report
-
Junior Journalist Program
-
World Economy
-
Opinion
-
Diversions
-
Hotels
-
Movies
-
People
-
Person of the week
-
Weekend
-
Photo Highlights
-
Currency Focus
-
Kaleidoscope
-
Tech and Science
-
News Picks
-
Yes Teens
-
Budding Writers
-
Fun
-
Campus
-
Glamour
-
News
-
Digital Paper
-
Food drink
-
Majors_Forum
-
Speak Shenzhen
-
Shopping
-
Business_Markets
-
Restaurants
-
Travel
-
Investment
-
Hotels
-
Yearend Review
-
World
-
Sports
-
Entertainment
-
QINGDAO TODAY
-
In depth
-
Leisure Highlights
-
Markets
-
Business
-
Culture
-
China
-
Shenzhen
-
Important news
在线翻译:
szdaily -> Business_Markets -> 
‘No strong stimulus but ample liquidity’
    2018-08-22  08:53    Shenzhen Daily

THE central bank said yesterday that it will not resort to strong stimulus to support the slowing economy but will keep liquidity reasonably ample and offer more help to companies which are having trouble obtaining financing.

Policies will also be made more forward looking, flexible and effective, the People’s Bank of China said in a statement issued at a briefing in Beijing.

The rare central bank news conference follows a spate of weaker readings from the world’s second-largest economy in recent months, a sharp drop in its yuan currency against the U.S. dollar and a plunge in Chinese stock markets.

With China’s economy cooling and the impact of U.S. trade tariffs still to be felt, policymakers are shifting their priorities to reducing risks to growth.

Smaller companies, in particular, are having a tough time securing loans and are grappling with rising borrowing and operating costs.

The central bank said it will “effectively ease” companies’ financing problems and improve coordination with other agencies to ensure monetary policy measures are being transmitted into the broader economy.

Analysts expect further cuts in corporate taxes and fees, and the central bank has specified that some funds freed up from reductions in banks’ reserve requirements should be earmarked for loans to smaller businesses.

China is also accelerating infrastructure spending to cushion the economy as it braces for the blow from escalating U.S. tariffs.

But the growing stream of new stimulus measures and easing credit policies have raised worries that China is putting debt reduction efforts on the back burner again.

Many local governments and State firms are still saddled with debt following China’s massive stimulus during the global financial crisis.

China’s economic growth rate slowed slightly to 6.7 percent year on year in the second quarter of the year, still well above the government’s full-year target of around 6.5 percent. But some key activity indicators have weakened more sharply.

Fixed-asset investment is growing at the slowest pace on record, while nonperforming loans surged in the second quarter of the year, defaults climbed and the jobless rate rose to 5.1 percent.(SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn