Economics
China Vows to Stick to Targeted Stimulus Amid Jobless Pressure
- Premier Li Keqiang closes legislative sessions in Beijing
- Li says China hopes ‘good outcomes’ to arise from U.S. talks
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China will stick to its current targeted economic support strategy and resist the temptation to engage in large-scale stimulus like quantitative easing or a massive expansion in public spending, Premier Li Keqiang said.
“We certainly need to take strong measures to face the downward pressure,” Li told a news conference Friday at the close of the annual National People’s Congress session in Beijing. “An indiscriminate approach may work in the short run but may lead to future problems. Thus it’s not a viable option. Our choice is to energize market players.”