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Economic Policy of Chinese

Economic Policy of Chinese PM and IMF to Restore China’s Economy. China chose to stick with the stimulus concept which was implemented amidst pressure from the international monetary fund (IMF) to carry out economic reforms, especially more liberal ones or what is known as pro-market.

Chinese Prime Minister Li Qiang in his speech at the China Development Forum argued that there is still a lot of room for macroeconomic policies to be expanded. Steps to make the country’s economy turn faster again.

Li’s confidence is supported by relatively low consumer price growth and not high central government debt levels.

Moreover, said Li, the steps taken to limit risks in depressed areas such as property have shown positive developments. The Bamboo Curtain country has reported a good start to the year, with export growth, industrial production and investment growing beyond expectations.

Economic Policy of Chinese PM and IMF to Restore China’s Economy. This has reduced the urgency for authorities to create additional stimulus in the short term.

The government itself is said to be preparing anticipatory steps. For this year, Li said the government would implement policies to encourage increased domestic demand. He will also emphasize China’s focus on developing advanced manufacturing and technology.

However, he did not explain in detail how policies could be strengthened. Li said only that China would continue to push for overall borrowing costs to fall, after guiding banks to cut the property sector’s benchmark interest rate to a record high last month.

On the other hand, IMF Managing Director Kristalian Georgieva said that China could see additional growth of 20% over the next 15 years, if it carried out fundamental reforms to its economy.

Meanwhile, this IMF-style liberalization policy is believed to be able to overcome various problems such as reviving the property market, increasing domestic consumption, the business environment, the regulatory framework for artificial intelligence and electricity prices.

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