• SENSEX
    NIFTY 50
Economy

China to slash taxes, boost lending to shore up slowing economy

Updated : March 05, 2019 11:13 AM IST

The government is targeting economic growth of 6.0 to 6.5 percent in 2019, Premier Li Keqiang said at Tuesday's opening of the annual meeting of China's parliament, less than the 6.6 percent gross domestic product growth reported last year.
GDP last year expanded at its slowest pace since 1990 due to the trade war and Beijing's crackdown on financial risks, which raised corporate borrowing costs and hurt investment.
The government has also set a consumer inflation target of around 3 percent despite a recent softening in price rises to less than 2 percent, which gives Beijing some room to stimulate consumption.
China to slash taxes, boost lending to shore up slowing economy

You May Also Like

Live TV

recommended for you

Advertisement