China’s local governments are enacting their own stimulus measures as the central government limits economic aid, Bloomberg reported. Although Premier Li Keqiang wants to avoid broad stimulus, saying that growth is in a reasonable range, some provinces are facing bigger shortfalls on their own goals than the economy as a whole, which expanded 7.4% in the first quarter. Hebei province, whose first-quarter expansion was 4.2%, will invest RMB1.2 trillion (US$193 billion) in railways, energy and housing to boost flagging investment. Heilongjiang, which grew only 2.9% due to low output from a major oilfield, will spend over RMB300 billion in infrastructure and mining.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved