China holds off on fresh stimulus

By Agence France-Presse

Oct 09, 2024 12:17 am

BEIJING ― China said on Tuesday it was 'fully confident' of hitting its growth target this year but held off more stimulus, disappointing markets and fueling concern about a lack of detail on a raft of measures unveiled last month.

Beijing has struggled to reignite business activity as officials target around 5-percent expansion, which analysts say is optimistic given the numerous headwinds, from a prolonged housing crisis to sluggish consumption and local government debt.

DEFERRED People cross a road in the business district in Beijing on Oct. 8, 2024. China is holding off more stimulus to get its economy back on track as it expressed confidence it can meet its growth target this year. AFP PHOTO

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