Jin said the latest efforts were different from those taken in the wake of the 2008-2009 financial crisis. “The fiscal policy is initiated to support private businesses, but it’s not ‘flooding’ anymore like it was in 2009,” he said. “It is more focused.”
A top official with a China-led development bank expressed faith in Beijing’s latest round of economic stimulus while cautioning that results may not be immediate.
“It will take little bit more time but I’m confident that all these measures taken by the Chinese government will be effective,” Jin Liqun, president of the Asian Infrastructure Investment Bank, told an audience of international bankers in Washington on Saturday.
