China has announced plans to boost its struggling economy with measures targeting the property market and stimulating consumer spending. The new policies come at a time when growth in the world’s second-largest economy has slowed and concerns about a trade war with the United States loom large.
The Chinese government has unveiled a set of measures aimed at boosting the property market, including making it easier for homeowners to sell their properties and supporting rental housing. Additionally, the government plans to ramp up investment in infrastructure and urban renewal projects to spur economic growth.
In a bid to stimulate consumer spending, China has also announced tax cuts for small businesses and individuals, as well as reducing the reserve requirement ratio for banks to free up more funds for lending. These measures are seen as crucial in helping to alleviate the impact of a weakening economy and escalating trade tensions with the United States.
The timing of these new measures is significant, as China is facing increasing pressure from the ongoing trade war with the US, which has already resulted in tariffs on billions of dollars’ worth of goods from both countries. The Chinese government is hoping that these new policies will help to stabilize the economy and prevent further escalation of the trade dispute.
Overall, the new measures are aimed at providing a much-needed boost to the Chinese economy, which has been experiencing a slowdown in growth in recent months. By targeting the property market and stimulating consumer spending, the Chinese government is hoping to kickstart economic growth and fend off the negative impacts of the trade war with the United States.
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