Take two — Beijing sets new press conference for fiscal discussion on Saturday

https://www.marketwatch.com/story/take-two-beijing-sets-new-press-conference-for-fiscal-discussion-on-saturday-0a832616?mod=home-page

[[[[[ China will hold a press conference on fiscal policy this Saturday, though investors expressed impatience about having to wait for news of additional measures to stimulate the world’s second biggest economy.In a statement published on Wednesday, the State Council Information Office said Finance Minister Lan Fo’an will start a briefing at 10 a.m. local time (10 p.m. Eastern) on Oct. 12 to introduce plans aimed at “intensifying countercyclical adjustment of fiscal policy to promote high-quality economic development”.Beijing has unleashed a multi-pronged stimulus at various stages over recent weeks, designed to support the stock market, revive the beleaguered property sector and help the Chinese economy reach the government’s 5% annual growth target.Those efforts had helped the CSI 300 XX:000300, an index of the biggest mainland A-shares traded in Shanghai and Shenzhen, to jump about 30% in just the past month.However, many economists think that for a sustainable economic recovery and stock market rally to take hold the government will need to complement the monetary proposals with a fiscal stimulus of up to 3 trillion yuan ($425 billion). ]]]]]

Dex