The piecemeal nature of the plans announced Tuesday appeared to disappoint investors who were hoping for bolder moves, and Shanghai’s benchmark gave up a 10 percent initial gain as markets reopened after a weeklong holiday to trade just 3 percent higher.
The NDRC’s chairman, Zheng Shanjie, said China was still on track to attain its full-year economic growth target of around 5 percent. But he acknowledged the economy faces difficulties and an increasingly “more complex and extreme” global environment. A modest package of 1.5 to 2 trillion yuan is more reasonable to expect in the near-term, she said, with another 2 to 3 trillion yuan in 2025.
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