More measures planned to spur third-quarter growth

Economic aid: Workers positioning rolls of battery aluminium foil for export at a factory in Huaibei. The country aims to help enterprises and cut taxes to help industries facing mounting pressures. — AFP

BEIJING: China will likely roll out a raft of pro-growth measures in the third quarter to revive the nation’s economic momentum, with a key focus on expanding domestic demand, spurring consumption, stimulating the vitality of private investment and stabilising the property sector, experts say.

They said the country will continuously strengthen counter-cyclical adjustments and policy reserves to ramp up macro adjustments, such as further reductions in the reserve requirement ratio and interest rate cuts, speeding up local government special bond issuance, and more tax and fee cuts to ease the burden on enterprises.