China will step up efforts to stabilize growth: vice state planner head

BEIJING (Reuters) – China will step up efforts to stabilize economic growth, Ning Jizhe, a vice head of the state planner, said on Tuesday, adding that authorities will speed up construction of investment projects and relax restrictions on auto purchases.

Ning made the comments in a briefing ahead of the 70th anniversary of the People’s Republic of China.

At the same briefing, central bank governor Yi Gang reiterated that China would maintain a prudent monetary policy stance and would not resort to “flood-like” stimulus.

Reporting by Kevin Yao; Editing by Shri NavaratnamOur Standards:The Thomson Reuters Trust Principles.

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