三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Bolder steps likely to boost demand

By Zhou Lanxu and Ouyang Shijia | chinadaily.com.cn | Updated: 2025-06-27 22:41
Share
Share - WeChat

China may soon reinforce its commitment to stabilizing growth with bolder, innovative measures aimed at promoting a consumption-driven recovery, as weak domestic demand continues to weigh on corporate profits, said leading economists and analysts.

They said such efforts would not only bolster confidence in achieving the country's full-year growth target, but also enhance the appeal of Chinese equities, which have increasingly emerged as a safe haven for global investors amid heightened international market volatility.

In an exclusive interview with China Daily, Liu Qiao, dean of Peking University's Guanghua School of Management and a professor of finance, said that "bold attempts" in fiscal policy could hold the key to addressing weak consumer confidence and promoting a recovery in domestic demand.

New policy tools worth considering in the second half of the year, Liu said, include fiscal transfers or cash subsidies for low-income groups, broadening consumption incentives like trade-in programs beyond traditional big-ticket items to everyday spending and services, and greater central government support for fertility and childcare.

"With proactive fiscal measures — such as the issuance of special central government bonds or a modest increase in fiscal deficit with spending focused on boosting consumption, China is well-positioned to meet its full-year growth target of around 5 percent," he said.

Latest economic data has pointed to the need for further policy easing to address sluggish demand. China's major industrial enterprises saw their total profits drop 1.1 percent year-on-year during the first five months, following a 1.4 percent growth in the first four months, the National Bureau of Statistics said on Friday.

The NBS attributed the decline to insufficient demand, falling industrial prices and short-term factors.

Acknowledging the challenges of insufficient domestic demand and low price levels, the People's Bank of China, the country's central bank, said on Friday that it will strengthen counter-cyclical adjustments and reduce the cost of comprehensive social financing while maintaining the stability of the capital market and the real estate sector.

Also pointing to a growth stabilization stance, the National Development and Reform Commission said that the country will roll out a third batch of consumer trade-in subsidies in July as scheduled, while accelerating the rollout of enhanced interest subsidy policies for equipment upgrade loans.

Allen Lee, head of China business development at global investment firm AllianceBernstein, said he expects the country to pursue targeted stimulus measures to support the transition from traditional growth drivers — like infrastructure and exports — toward consumption upgrading and advanced manufacturing.

The likely rollout of additional measures, coupled with A-share listed companies' governance reforms and improving shareholder return, means that China's equity market may be entering a positive phase of earnings recovery and valuation improvement, Lee said.

"While structural challenges and external uncertainties persist, ongoing reform efforts and the gradual recovery of endogenous growth momentum suggest a more sustainable economic rebound could emerge in the second half of 2025," Lee said.

Also expecting stronger policy easing in the second half, Goldman Sachs has maintained its overweight call on A shares and H shares, forecasting a double-digit rally in the CSI 300 Index to 4,600 points by year-end. The index went down 0.61 percent to close at 3,921.76 points on Friday.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: xvideos永久免费入口 | 美国一级大黄一片免费的网站 | 综合久久久久久中文字幕 | 亚洲欧美日韩久久一区 | 麻豆传煤一区免费入 | 国产精品国产三级国产专不∫ | 国产成人激烈叫床声视频对白 | 黑人性视频| 久久精品国产网红主播图片 | 天天色综合影视 | 国产精品免费看久久久麻豆 | 国产亚洲精品精品国产亚洲综合 | 欧美黄色性视频 | 欧美18性欧美丶黑吊 | 欧美一级毛级毛片 | 97视频精品全国在线观看 | 毛片三级在线观看 | a级黄色免费看 | 2021久久精品99精品久久 | 久久久久无码国产精品一区 | 欧美视频黑鬼大战白妞 | a毛片免费全部播放毛 | 韩国毛片在线观看 | 国产精品亚洲欧美一级久久精品 | 久久精品呦女 | 在线看黄免费 | 久久久久国产精品美女毛片 | 免费片| 日韩一级欧美一级一级国产 | 国产成人在线视频免费观看 | 天天操天天看 | 亚洲欧美日韩国产精品网 | 免费区一级欧美毛片 | 玖玖爱在线观看 在线播放 玖玖草在线观看 | 国产精品亚洲第一区广西莫菁 | 日韩午夜激情视频 | 69堂在线观看国产成人 | 国产成人av性色在线影院 | 日韩欧美亚洲一区 | 国产91在线看 | 国产精品黄页网站在线播放免费 |