China to keep injecting monetary stimulus, as pressure lingers

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China to keep injecting monetary stimulus, as pressure lingers

On Friday, the 19th of April 2019, a top decision-making executive committee of Chinese Communist Party chaired by President Ji Xinping said that the the country would be proffering jabs to its economy and maintain policy supports, as the nation had still been vying to vent out a downward pressure and difficulties despite a better-than-anticipated first quarterly growth.

The statement from the political bureau of China came forth two days after the country had posted a steady 6.4 percent growth during the first quarter of 2019, on a year-on-year basis, denying possibilities of a further slowdown, as consumer demands had shown signs of improvement and industrial production had climbed unexpectedly which had been tearing apart over the last quarter of 2018.

More interestingly, a steadier annual growth of 6.4 percent is highly lucrative, given the consistency of battered up economic readings across the world, though it had been lowest reading for Chinese economy over past three-decades.

Citing an executive board meeting of China’s communist party chaired by Chinese President Xi Jinping, the nation’s official Xinhua News Agency reported on Sunday (April 21st), “While fully affirming the achievements, we should clearly see that there are still many difficulties and problems in economic operations.

The external economic environment is generally tightening and the domestic economy is under downward pressure,” adding that the country would be implementing a counter-cyclical adjustment of the economic stimulus to keep the monetary policy neither too loose nor too tight.