China’s Stimulus Aims to Boost Consumption, Top Official Says
- Vice finance minister says fiscal moves will be ‘quite large’
- Lawmakers expected to unveil fiscal package in early November
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China’s recent rollout of stimulus is centered around lifting domestic demand and hitting the nation’s annual growth goal, said Vice Finance Minister Liao Min, as investors await a meeting of lawmakers expected to unveil details of Beijing’s crucial fiscal package.
“The goals are to enhance the strength of macro policies to expand domestic demand and reach this year’s GDP growth target,” Liao told Bloomberg News on Friday in Washington, on the sidelines of the International Monetary Fund and World Bank’s annual meetings. “And in the meantime to coordinate with monetary policy to push for the restructuring of the economy, particularly to boost domestic demand including consumption.”