China weighs additional stimulus measures: report

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Authorities in China are drafting additional stimulus measures aimed at boosting sales of cars and electronics, Bloomberg reported Wednesday, citing unidentified people familiar with the matter. The report comes after data showed China’s economy grew a stronger-than-expected 6.4% year over year in the first quarter, matching the pace seen in the final months of 2018. The proposals include subsidies for new-energy vehicles, smartphones and home appliances, and are at the consultation stage with other government branches, the report said, with no guarantees they’ll be approved. China has already undertaken a number of stimulus measures, which have been credited with helping to fuel a global equity rally since the end of last year, in an effort to avoid a hard landing for its economy.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.