China pledges to further promote targeted economic stimulus: paper

Wed Jul 16, 2014 8:56pm EDT
 
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SHANGHAI (Reuters) - China's State Council, or cabinet, pledged at a meeting on Wednesday to further promote targeted economic stimulus steps, the China Securities Journal reported on Thursday, quoting a report by the official Xinhua news agency.

The government would also support railways, urban infrastructure and irrigation projects.

The policy pledge comes after China posted slightly better- than-expected economic growth of 7.5 percent in the second quarter of this year, as a burst of government stimulus paid dividends, while analysts said Beijing would likely need to offer more support to meet its annual growth target as the property market slows. [ID:nL4N0PR1GO]

(Reporting by Lu Jianxin and Fayen Wong; Editing by Jacqueline Wong)

 
A Chinese national flag is seen in front of the chimney of a heat supply plant in Beijing July 16, 2014. REUTERS/Kim Kyung-Hoon