Li Qiang requires that the rescue policy be relatively mature and "launched immediately"

Premier Li Qiang on Sunday stressed the urgency of implementing incremental economic policies, calling for "relatively mature policies to be introduced immediately." The People's Bank of China soon announced a reduction of around 0.5 percentage points in the average interest rate for outstanding mortgages. Head of the economics division at NTU, Assoc Prof Feng Qu noted that the primary challenge for China's economy is declining aggregate demand, especially in consumption and investment. He said that issuing 2 trillion yuan in special government bonds will help stabilise consumption, bolster confidence and improve growth expectations in the short term, adding that this bond issuance is not excessive relative to China's economy, which exceeds 100 trillion yuan.

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