Economic stimulus: People wearing face masks walk in a shopping mall district in Beijing, China amid concerns over the coronavirus. The government has pledged to do ‘everything it can’ to help struggling small firms by further reducing their taxes and fees, rent and funding costs.— AFP
BEIJING: China has plenty of room for manoeuvre in its macroeconomic policy to cushion against the impact of the coronavirus, officials at the National Development and Reform Commission (NDRC) said.
The potential measures would included increasing the fiscal deficit, issuing special treasury bills, ramping up local government special bond quotas, spurring spending in key projects and cutting the bank reserve requirement ratio and interest rates, said Yan Pengcheng, an official with the NDRC.
Limited time offer:
Just RM5 per month.
