China has made a number of pledges recently to revive the economy’s recovery and improve the business environment as concerns about the growth outlook continue to mount. A flurry of statements from the government and Communist Party since July have largely focused on encouraging more spending on things like consumer goods and cars, coaxing private companies to expand investment, and making it easier for businesses to access funding.
Financial regulators on July 10 extended loan relief for developers to ensure the delivery of homes under construction. The PBOC has also called on banks to lower the rates on existing mortgages. Cars The NDRC released a 10-step plan on July 21 to increase car purchases, particularly for new-energy vehicles, including lower costs for electric-vehicle charging and extending tax breaks.