Rabu, 24 Juli 2013

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China takes measures to boost growth

Worker climbs out of an underground construction site in Hefei, ChinaChina has previously used stimulus measures to help sustain its high growth rate

China has unveiled a series of moves aimed at boosting growth, indicating that policymakers are concerned about the slowdown in its economy.

The steps include tax breaks for small businesses, reduced fees for exporters and opening up of railway construction.

China's economic growth rate has slowed for two quarters in a row and there are concerns that it may slow further.

But the cabinet said the economy is in a reasonable shape and it was pushing for reforms to stabilise growth.

"The economy is still running in a reasonable range," the cabinet said.

"We must look at now and beyond to let restructuring and reform play an active role in stabilizing growth."

Data released earlier this month showed that China's economic growth slowed in the April to June period.

The world's second biggest economy grew by 7.5% compared to the previous year, down from 7.7% in the January to March period.



Source: BBC News - Business http://www.bbc.co.uk/news/business-23445528#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa