Li Keqiang Assures Investors that China is Ready to Support the Cooling Down of Economy
Chinese Premier Li Keqiang is reassuring the uneasy global investors that the country is ready to support the cooling down of the economy and stated that the government has the necessary policies and will push ahead with investing in infrastructure. Amid the result of a weak data and mounting signs of risk financially has dimmed the outlook of the second largest economy in ithe world and sparked rumors of an imminent action from the government or a mini stimulus plan that will trigger growth.
The country does not want to risk losing the confidence of investors and businesses and they also made it clear that they have the ability to step in anytime if they think it’s necessary. And during a meeting last Friday said that the government is well prepared on its policies and will roll out measures step by step to assist the economy. Furthermore they will be launching measures that they think is according with their plan which includes speeding up the construction of basic infrastructure ranging from highways, railways and water conservation projects.
While several issues that happened showed signs of financial strain which feed a sense of uneasiness on the risks with a combing rise in corporate debt and slow economy, the economy was strong enough to push away potential risks.