China's Economic Challenges: Seeking Stability Amid Global Uncertainty

China remains optimistic about meeting its full-year growth target, yet refrains from launching stronger fiscal measures, disheartening investors. Despite a rally following the National Day holiday, market enthusiasm dimmed due to limited new details from policymakers. Analysts call for enhanced fiscal support to stabilize growth and boost confidence.

China has expressed confidence in achieving its full-year growth target but stopped short of implementing stronger fiscal actions, leaving investors disheartened. Initial rallies in China's stock market, spurred by optimism after the National Day holiday, swiftly faltered when the state planner failed to provide sustaining details.

Speaking at a press conference, Zheng Shanjie, Chairman of the National Development and Reform Commission (NDRC), announced plans for 200 billion yuan in advance budget spending and investment projects next year. However, he emphasized the need for more robust macroeconomic policies, as global uncertainties remain significant.

Premier Li Qiang highlighted the importance of policy coordination and future plans to reinforce economic stability. Analysts predict that substantial fiscal support will be needed to regain business confidence and stabilize China's property market, amidst signs of slowing economic momentum.

(With inputs from agencies.)