Economics
China Signals More Easing to Shore Up Virus-Weakened Economy
- Top officials call for more flexible monetary, fiscal policy
- More special bond sales, targeted tax cut measures pledged
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China’s top leaders signaled they will increase fiscal and monetary stimulus this year, as the coronavirus outbreak hammers the world’s second-biggest economy.
At a Friday meeting chaired by President Xi Jinping, officials pledged to be more “proactive” in using fiscal policy and exercise “more flexibility” in monetary easing. The wording indicates a greater easing bias compared with the stance that was endorsed at a top-level economic meeting in December, where the Communist Party leadership laid out stimulus plans for 2020.