MNI BRIEF: China CNY500 Billion Policy Instruments Disbursed

China has fully disbursed the recently announced CNY500 billion of new policy-based financial instruments, supporting more than 2,300 projects with a total investment of about CNY7 trillion, Li Chao, deputy director at the National Development and Reform Commission (NDRC), told reporters on Friday.

Li noted the funds were mainly directed toward areas such as the digital economy, artificial intelligence and consumer and urban infrastructure.

China’s GDP growth could slow to between 2-4% over the next decade unless it abandons its state-led growth model, a prominent economist recently told MNI, warning Beijing may have already missed the optimal reform window. (See MNI INTERVIEW: China’s Growth To Slow)