{"id":136992,"date":"2012-05-29T04:29:14","date_gmt":"2012-05-29T11:29:14","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/?p=136992"},"modified":"2012-05-29T04:29:14","modified_gmt":"2012-05-29T11:29:14","slug":"xinhua-no-massive-stimulus","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2012\/05\/xinhua-no-massive-stimulus\/","title":{"rendered":"Xinhua: No “Massive Stimulus”"},"content":{"rendered":"

State-run Xinhua News Agency announced Tuesday that China will not introduce a large stimulus similar to the one it implemented during the 2008 financial crisis<\/a><\/strong>, tempering expectations following a call last week by Premier Wen Jiabao<\/a> to prioritize economic growth. From Bloomberg:<\/p>\n

\u201cThe Chinese government\u2019s intention is very clear: it will not roll out another massive stimulus plan to seek high economic growth,\u201d Xinhua said in the seventh paragraph of a Chinese- language article on economic policy. \u201cThe current efforts for stabilizing growth will not repeat the old way of three years ago.\u201d<\/p>\n

Premier Wen Jiabao\u2019s call last week to focus more on boosting economic growth has spurred speculation the nation will step up measures to boost expansion that\u2019s set to slow for a sixth straight quarter. Economists at Credit Suisse Group AG and Standard Chartered Plc said yesterday that stimulus is likely to be smaller than the 4 trillion yuan ($630 billion at today\u2019s exchange rate) package announced in 2008.<\/p>\n

Credit Suisse economists said spending on investment will probably range from 1 trillion yuan to 2 trillion yuan. Standard Chartered said China is starting a \u201cmini-me\u201d version of the prior stimulus.<\/p><\/blockquote>\n

Smaller stimulus doesn’t mean no stimulus, however, and the government has already made policy announcements this week aimed at promoting growth. The State Council has agreed to revive a “cash for clunkers” program<\/a> that gives consumers financial incentive to trade in their cars, and the Ministry of Finance announced that it will offer subsidies ranging from 100 to 400 yuan<\/a> on energy-efficient televisions and air conditioners sold beginning June 1.<\/p>\n

The Wall Street Journal reported today that Asian stock markets have rallied<\/a> on hopes of a China stimulus.<\/p>\n","protected":false},"excerpt":{"rendered":"

State-run Xinhua News Agency announced Tuesday that China will not introduce a large stimulus similar to the one it implemented during the 2008 financial crisis, tempering expectations following a call last week by Premier Wen Jiabao to prioritize economic growth. From Bloomberg: \u201cThe Chinese government\u2019s intention is very clear: it will not roll out another […]<\/p>\n","protected":false},"author":983,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[2,14744,14745,14746,5],"tags":[15305,134,13755,15047,6116,3800,15301,5936],"class_list":["post-136992","post","type-post","status-publish","format-standard","hentry","category-economy","category-level-2-article","category-level-3-article","category-level-4-article","category-society","tag-auto-sales","tag-economic-growth","tag-energy-efficiency","tag-financial-crisis","tag-ministry-of-finance","tag-state-council","tag-stimulus","tag-wen-jiabao","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\nXinhua: No "Massive Stimulus"<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2012\/05\/xinhua-no-massive-stimulus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Xinhua: No "Massive Stimulus"\" \/>\n<meta property=\"og:description\" content=\"State-run Xinhua News Agency announced Tuesday that China will not introduce a large stimulus similar to the one it implemented during the 2008 financial crisis, tempering expectations following a call last week by Premier Wen Jiabao to prioritize economic growth. 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