Xi’s Big Stimulus Week Aims to Draw a Line Under Slowdown
- China’s central bank took center stage in rolling out stimulus
- Economy still hamstrung by weak consumption and housing market
Vehicles along a road in Beijing.
Photographer: Na Bian/BloombergThis article is for subscribers only.
For months, President Xi Jinping appeared unfazed by slowing growth as stocks sank, prices fell and discontent grew around China. This week showed he’s not willing to tolerate any more pain.
The People’s Bank of China led the charge to revive sentiment on Tuesday in a rare televised press briefing beamed live around the world, opening its war chest to stock markets and making money cheaper to borrow.