Quarterly review of China’s economic trends and developments
KPMG China has released the latest Q4 edition of the China Economic Monitor (CEM). The new issue analyses the latest trends in the macro economy and recent regulatory changes. China’s economic growth slowed further in the third quarter of 2019. GDP grew 6.0% in Q3, 0.2 percentage points lower than in Q2.
With weakened internal and external demand, we expect China’s economy to slow further in the fourth quarter of 2019. The government will likely continue to maintain prudent monetary policy, and fine-tune it in a preemptive way by implementing both RRR and interest rate cuts. The goal is to guide more funds into inclusive finance, and ramp up support for the real economy. Fiscal policy will likely remain proactive, to continue boost the economy through bigger tax and fee cut and allowing for higher budget deficit.
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