China’s stimulus is aimed at boosting consumption, a senior official says

According to the deputy finance minister, China’s recent stimulus implementation is focused on boosting domestic demand and achieving the national annual growth target. Liao Mingas investors await a meeting of lawmakers to unveil details of Beijing’s landmark financial package.

“The goals are to tighten macro policies to expand domestic demand and achieve the GDP growth target this year,” Liao told Bloomberg News on Friday in Washington on the sidelines of the annual meetings of the International Monetary Fund and the World Bank. “In the meantime, coordinate actions with monetary policy to help restructure the economy, in particular to boost domestic demand, including consumption.”