China’s NBS: Economy faces increasing downward pressure


Following the releases of downbeat Chinese activity data, the spokesman for the country’s stats bureau, National Bureau of Statistics (NBS) highlighted the following key points.

The economy faces increasing downward pressure.

Economy sees significantly increasing external uncertainties.

Will step up counter-cyclical adjustments.

Economic operations remain largely steady in August.

China's economic operations within reasonable range in Jan-Aug. 

Expects China's consumer inflation to remain largely stable.

China able to achieve full year growth target.

China will move forward local govt special bond issuance to support infrastructure investment.

Still needs to watch on impact from attack on Saudi oil facility.

Tax cuts and other policy measures will support industrial output growth.

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