China Premier Li Qiang calls for stronger economic stimulus

Chinese Premier Li Qiang has called for intensified economic stimulus measures to bolster domestic demand and ensure the country meets its annual economic growth target of 4.5% to 5%. During a State Council executive meeting, Li emphasized the need to increase the intensity of 'counter-cyclical adjustments' to address current economic imbalances.

While China's exports and high-tech manufacturing have shown resilience, the broader economy faces significant headwinds. Retail sales growth slowed to 0.4% in August, and fixed-asset investment fell by 7.2% between January and August. The real estate sector also continues to struggle, with property development investment dropping 19.9% during the same period.

To counter these trends, the State Council directed officials to accelerate bond issuance, expedite major infrastructure projects, and strengthen interest support policies to promote consumption and investment. Additionally, the State-owned Assets Supervision and Administration Commission announced that central state-owned enterprises are advancing large-scale projects involving water, power, computing, and telecommunications networks, with planned investments reaching approximately 2 trillion yuan this year.