(Reuters) – The main leaders of China plan to meet on Wednesday to eliminate the measures to stimulate the economy and stabilize the capital markets, said people with knowledge of the case, while the trade war with the United States degenerates.
Economists have warned that trade in trade could raze one by two percentage of growth percentage this year in the second world economy, worsen industrial overcapacity, endanger domestic jobs and other fuel deflation forces.
The high -level rally planned is the first to become a public since US President Donald Trump tightened the “reciprocal” prices on China last week, and followed the doubling of Wednesday at 104% of American rights on imports from China.
Those who should assist included senior officials of the Council of State, or Cabinet, as well as several government and regulatory organizations, said that the two sources, which asked for anonymity because they were not authorized to speak to the media.
Political decision -makers had to discuss measures to stimulate domestic consumption and support capital markets in China, sources said.
Initiatives such as making discounts on the more attractive export tax for national companies were also likely to understand talks, added one of them.
The Information Office of the Council of State, which manages media requests for the Chinese government, did not immediately respond to a request for comments.
Trump’s punishing prices have shaken a global negotiation order that has persisted for decades, moving fears of recession and the reduction of actions strongly in the world.
For China, the trade war comes at a time when its economy relaxes under a prolonged real estate crisis and high levels of local government debt, bitterness between businesses and consumers.
While Beijing unveiled counter-tariffs last week in the United States, promising to fight what he considered as a blackmail, analysts say he feels trapped by Trump’s pricing assault on China and any country that buys or assembles Chinese products.
The senior officials of government organizations, including the Banque Populaire de China, the Central Bank and the Ministry of Finance, were likely to attend the meeting, the sources said.
Chinese state media should point out part of the agenda of the meeting, because the authorities aim to stabilize the economy and the markets as well as to restore investors’ confidence, they added.
The officials of the Ministry of Commerce, as well as the Banking Regulator, the National Financial Regulatory Administration (NFRA) and the securities regulator of China Securities Regulatory Commission (CSRC) also had to attend, said the first source.
