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China announces 19 new policies in a bid to bolster economic growth

The measures -- unveiled by the State Council, the country's Cabinet -- include more than 1 trillion yuan ($146 billion) in new funding to boost investment and consumption, as well as more flexibility

Photo: Bloomberg
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The package comes on top of 33 policies the government introduced just three months ago involving trillions of yuan worth of relief for China. (Photo: Bloomberg)

Bloomberg
China announced 19 new policies Wednesday aimed at beefing up efforts to rescue economic growth, which is weakening again with a resurgence in Covid cases, a deepening property crisis and now power shortages spurred by a severe drought.
 
The measures -- unveiled by the State Council, the country’s Cabinet -- include more than 1 trillion yuan ($146 billion) in new funding to boost investment and consumption, as well as more flexibility for local authorities to support the real estate market. They also contain policies intended to clear logistical hurdles and help businesses move personnel across borders more easily.

The package

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First Published: Aug 25 2022 | 9:56 AM IST

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