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China Unveils New Measures to Aid Growth Amid Trade Uncertainty

  • State Council issues tax breaks, support for smaller firms
  • Policy is more ‘fine-tuning’ than major shift: Macquarie
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China unveiled a package of targeted policies to boost domestic demand. Bloomberg’s Tom Mackenzie reports.(Source: Bloomberg)
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China unveiled a package of policies to boost domestic demand as trade tensions threaten to worsen the nation’s economic slowdown, sending stocks higher.

From a tax cut aimed at fostering research spending to special bonds for infrastructure investment, the measures announced late Monday following a meeting of the State Council in Beijing are intended to form a more flexible response to “external uncertainties” than had been implied by budget tightening already in place for this year.