China's latest policy support stops short of long-awaited stimulus splash

Announcement disappoints market counting on trillions of yuan in economic fuel

20241008 SCIO Press Conference On Policies To Solidly Promote Economic Growth

Chinese officials announced a series of measures meant to stimulate the sluggish economy on Tuesday. © AP

WATARU SUZUKI and STELLA YIFAN XIE, Nikkei staff writers

SHANGHAI/HONG KONG -- Chinese officials on Tuesday expressed confidence in reaching the country's full-year economic goals as they outlined new support measures without rolling out a major stimulus package, as anticipated.

Zheng Shanjie, chairman of the National Development and Reform Commission, China's top economic planning body, said on Tuesday at a news conference that the government will speed up the issuance of special-purpose bonds by local governments, as well as continue to issue ultra long-term special government bonds next year.

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