China's central bank to plan additional policies to support growth

economictimes.indiatimes.com:

China's central bank will plan more policies to support growth, governor Pan Gongsheng said, as the economy struggles to gain momentum.

The People's Bank of China (PBOC) will strengthen efforts to effectively implement monetary and financial policies that have been introduced this year and further steps will be made in accordance with the requirements of the State Council, Pan said in an interview with state broadcaster China Central Television on Thursday. He didn't elaborate on potential policies.

Latest data show China's economic growth remains lackluster, with domestic demand faltering under a prolonged downturn in the housing market. That's drawing renewed attention to the need for more stimulus. Still, Pan said China's financial system is relatively stable and overall risk has eased significantly.

Fixed-asset investment rose a slower-than-expected 3.6% in the first seven months of 2024 from a year earlier, showed data released Thursday. Industrial output and retail sales were broadly in line with forecasts.

Export curbs on key metal
Meanwhile, the ministry of commerce, in a statement Thursday, said China will apply the restrictions to antimony and antimony-related materials from September 15 in order to safeguard national security. The metal, used widely in ammunition and other military applications, has seen a surge in prices this year. Agencies