China pledges more targeted stimulus

Thursday, 17 July 2014

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.

Not much more I’m afraid but the sources are credible. Perhaps it is this that has the miner’s flying. It’s not futures, which are down the better part of 1% in China.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.