Chinese leaders to hold annual ‘Two Sessions' meeting as debate about bazooka-like stimulus swirls [CNBC]
BANK OF CHINA UNSP/ADR (BACHY)
NASDAQ:AMEX Investor Relations:
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Source: CNBC
The country's gross domestic product grew by 5.2% in 2023 , but overall recovery from the Covid-19 pandemic was slower than many had expected. A prolonged slump in the massive real estate market and falling global demand for Chinese exports have contributed to low levels of consumer and business sentiment. That's all led to questions over whether Beijing will step in with large-scale support. So far, authorities have been relatively reserved. Beijing signaled in December that any new policy support would be “ appropriate ,” said Wang Jun, chief economist at Huatai Asset Management, adding “there's no way” that stimulus would be as large as it was in 2008. That's according to a CNBC translation of his Mandarin-language remarks. China's economic policy is typically set at an annual meeting in December by leaders within the ruling Communist Party of China. The meetings this month, known as the “Two Sessions,” are at the government, instead of party, level and typically release m
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