China repeats promise to increase investment, speed up reforms
China will increase investment in areas including the property sector, while authorities will advance wide-ranging economic reforms such as changing the fiscal and pricing systems, the country’s powerful economic planning agency said on Monday.
The remarks from the National Development and Reform Commission were a reiteration of existing government policies.
China’s economy grew slightly faster than expected in the second quarter at 7.5 percent as a burst of government stimulus paid dividends. But analysts said Beijing will likely need to offer further support to meet its growth target for 2014, especially if a downturn in the property market worsens.
(Reporting by Koh Gui Qing and Aileen Wang; Editing by Kim Coghill)
Source: Reuters
Related Posts
China factory activity shrinks in April, new export orders contract
Russia-China Gas Pact Stirs Dream of Bridge Across Amur
Western Europe overtakes China and North America as #1 investment destination with FDI projects at record high
China Buys Friends and Influences Nations
ZestFinance receives funding from Baidu
