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China's premier says should use counter-cyclical measures 'more effectively'

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11/12/2019 | 08:01am EDT
East Asia Summit (EAS) in Bangkok

China should use counter-cyclical adjustment measures more effectively, Premier Li Keqiang said on Tuesday, amid increasing pressure on the world's second largest economy.

China should also keep macro policies stable to ensure key economic targets for this year are achieved, said Li, in a statement about the meeting released on a government website.

China’s economic growth slowed to 6.0% year-on-year in the third quarter, the weakest pace in at least 27-1/2 years, as demand at home and abroad faltered amid a bruising Sino-U.S. trade war.

The country has set a target of 6-6.5% growth for the whole of 2019.

The government will improve the use of local government special bonds and strengthen support for the real economy, the statement said.

China will also break hidden barriers to investment to improve the business environment, said the statement.

(Reporting by Gabriel Crossley and Beijing Monitoring Desk; Editing by Catherine Evans)

Stocks mentioned in the article
ChangeLast1st jan.
PREMIER, INC. 2.47% 34.02 Delayed Quote.-12.35%
WORLD CO., LTD. 8.04% 1505 End-of-day quote.-44.07%
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