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China pledges to further promote targeted economic stimulus - paper
July 17, 2014 / 12:50 AM / 3 years ago

China pledges to further promote targeted economic stimulus - paper

SHANGHAI, July 17 (Reuters) - China’s State Council, or cabinet, pledged at a meeting on Wednesday to further promote targeted economic stimulus steps, the China Securities Journal reported on Thursday, quoting a report by the official Xinhua news agency.

The government would also support railways, urban infrastructure and irrigation projects.

The policy pledge comes after China posted slightly better- than-expected economic growth of 7.5 percent in the second quarter of this year, as a burst of government stimulus paid dividends, while analysts said Beijing would likely need to offer more support to meet its annual growth target as the property market slows. (Reporting by Lu Jianxin and Fayen Wong; Editing by Jacqueline Wong)

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